Snap Finance Chief Stone Quits After 8 Months; Shares Drop
- Former Amazon executive was seen as a key experienced hire
- Snapchat parent company gives upbeat forecast for revenue
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Snap Inc. Chief Financial Officer Tim Stone is resigning after eight months in the job, another sign of volatility at the social-media company that sent shares tumbling in extended trading.
His sudden departure, following several years of frequent executive turnover, adds to uncertainty surrounding the young company’s future, as it struggles to expand the user base for its Snapchat mobile photo-sharing app. Snap shares, which have fallen more than 50 percent in the past year, dropped 7 percent after the close of regular trading in New York following the announcement.