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Tuesday, Jun 6, 2023

Snap Chief Financial Officer Resigns

Tim Stone, Snap Inc.’s chief financial officer, announced Jan. 15 he will resign after working for the Santa Monica social media company for just eight months.

Snap noted in a regulatory filing that “Mr. Stone has confirmed that this transition is 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).” According to the filing, Stone’s last day has not been determined, and he will remain chief financial officer to “assist in the search for a replacement and an effective transition of his duties.”

At this time, it is unclear what Stone’s next venture will be, though he joined Snap from Amazon.com Inc, where he served as vice president.

Snap is finalizing its fourth quarter 2018 earnings results, but in its October 2018 quarterly report reported revenue increased 43 percent from the previous year to $297.7 million.

Snap stocks ended the trading day up 3.65 percent at $6.54 per share.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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