The chief financial officer of the company behind Snapchat is joining an exodus of top executives after less than a year in the role. Tim Stone told Snap, Snapchat’s parent company, that he was resigning “to pursue other opportunities”, eight months after moving from Amazon, where he had been vice-president of finance. Snap shares fell by 78 cents, or almost 12 per cent, to $5.76 after the announcement as investors expressed concern about the company’s struggles to retain users and its own bosses. Mr Stone is the tenth executive to head for the exit at Snap since May. Others include Drew Vollero, its former chief financial officer, Imran Khan, chief strategy officer, and Tom Conrad, vice-president of product.

Source: The Times January 17, 2019 00:00 UTC