Snapchat's Parent Company Continues To See Internal Drama
This past week has been a troublesome one for Snap's executive team as we've seen the departure of the CFO, HR Chief, & Global Security Head.
Snap CEO Evan Spiegel announced the departure of CFO Tim Stone this week making this the second CFO to leave the company in the last 12 months.
Going along with Tim Stone is the HR Chief Jason Halbert and Global Security Head Francis Racioppi following an investigation late last year into an inappropriate relationship between Racioppi and an external contractor.
The investigation concluded that Francis Racioppi had engaged into an inappropriate relationship with an outside contractor which he hired to work with Snap. When the relationship ended Racioppi terminated the contract.
These departures from Snap's executive team continue to raise doubts into the viability of the company in the future. Their inability to produce a successful product outside Snapchat is beginning to look like a one-hit wonder, and with Instagram taking bigger and bigger hits at Snapchat it's hard to tell if the company will be around for many more years.