Snap CSO Imran Khan is set to leave the company, a regulatory filing revealed, adding to the list of executives who have left this year and likely worrying investors.
Khan, who joined in 2015, will continue in his role for an interim period “to assist with an effective transition of his duties and responsibilities,” the filing stated. It quoted CEO Evan Spiegel as saying Khan had been “a great partner building our business,” while the outgoing CSO said “we have a stellar leadership team in place to guide Snap through the next chapter”.
His departure adds to a growing list of Snap exits this year, with CFO Drew Vollero, VP of product Tom Conrad and VP of engineering for monetisation Stuart Bowers all leaving or announcing their departure. Bowers was snapped up by electric vehicle manufacturer Tesla.
Media reports state the turnover of executives is making investors nervous, given Snap also recently reported its first ever drop in daily users of its messaging app. The decline was likely due to the popularity of Instagram and a backlask from users over a Snapchat revamp.
Snap reported a 44 per cent increase in revenue in its most recent quarter, but has has yet to report a profit since it went public.Subscribe to our daily newsletter Back