Snap to lose chief financial officer, its 2nd in a year
Another high-level departure at Snap Inc. rattled investors in the social media company, which is losing its second chief financial officer in less than 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 roundly despised by users. Snap has been struggling with declining user numbers and stiff competition from Facebook's Instagram.
More instability in the top ranks of the company sent shares tumbling 12 percent Wednesday.