Snap to lose chief financial officer, its 2nd in a year
Snap Inc. is getting hit hard in premarket trading after the social media company said its chief financial officer is leaving, the second to do so in the past year.
In a regulatory filing Tuesday, the company said Tim Stone is leaving to pursue other opportunities. He had joined the Santa Monica, California, company just eight months ago after two decades at Amazon.com.
A number of top executives have left the company in recent months and a redesign of the platform has been heavily criticized by users.
With less than an hour before Wednesday’s opening bell, shares of Snap are down almost 11 percent.