According to the latest report which states that the Snapchat’s Chief Financial Officer will be leaving the company as he decided to resign from the post of CFO of the company. There are various things which are happening around Snapchat from the last couple of few months, but no had predicted that the company might lose its CFO. After this news came, the shares of snapchat have been dropped by more than 8 percent, and it seems like Stone’s decision of leaving Snap is costing lots of money to the company. Many speculations are going on regarding this news, and many think there must be some disagreement between the company and Tim Stone. However, the company has denied all of these rumours and said that there’s no disagreement between him and the company. Snapchat has faced lots of criticism recently because of its decision of resigning Snapchat app, which many people did not like.
When a company loses its key managerial person, it clearly states that there’s something wrong with it. However, It’s not the first time any key administrative person left the Snapchat because a few months ago Former Chief Strategy Officer Imran Khan and Vice President of content Nick Bell left the company. Snapchat is in the trouble because the user base of the company is declining every quarter which is negatively impacting on the company’s profit and performance of top position holders.
A few days ago Snapchat predicted that they are expecting $355 to $380 million revenue in the next quarter’s, but this decision of Stone leaving the company might impact Snapchat’s expected revenue and profit. The CEO of Snapchat Evan Spiegel said that “The company is great to have Tim Stone as CFO of the company and Snapchat will always be grateful for his dedicated work.”
Carolyn is a technology graduate and loves to write about anything related to technology as well as writes in others sectors. Carolyn is a professional writer with over 7 years of experience. Initially starting off as a programmer, Carolyn decided to combine her knowledge about technology and writing and that’s how she joined Reporter Expert.