News

People on the move: Snap CFO Tim Stone is resigning; and more!

Christian Wylonis · January 21, 2019
Snap
Photo by Thought Catalog on Unsplash

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The executive instability at Snap continues to worsen as the company’s CFO, Tim Stone, resigned after just 8 months on the job. Snap’s share price has been punished in recent months following an array of missteps, including failing to build an appealing Android app for non-U.S. users, failing to grow its U.S. user base for consumers. According to an internal memo sent by CEO Evan Spiegel, Stone’s departure was “not related to any disagreement with us on any matter relating to our accounting, strategy, management, operations, policies, regulatory matters, or practices (financial or otherwise).”

The news of Stone’s departure was followed by a new executive scandal at Snap. The Wall Street Journal reported that the company had fired Francis Racioppi, its director of global security, late last year because he had hired an outside contractor, had a relationship with her, and then pulled the contract after the relationship ended. Snap also asked its head of human resources Jason Halbert to leave the company because of the Racioppi incident and other performance issues.

Noteworthy personnel news:

  • Lyft just poached another Google engineering executive as it continues to siphon off talent from the search giant (Business Insider)
  • Slack’s product chief is out ahead of direct listing (TechCrunch)
  • Facebook poaches Google’s AR/VR engineering lead to take over Portal team (TechCrunch)
  • PayPal Announces Appointment of Chief Marketing Officer (BusinessWire)
  • Ericsson Announces Change to the Executive Team (PR Newswire)
  • Box hires former SAP exec as chief information security officer (TechCrunch)
  • NBCUniversal shakes up leadership as it prepares to launch a streaming service in 2020 (Business Insider)
  • Sean Giancola Named Publisher and CEO of New York Post (BusinessWire)

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