×

Snap Fills Out Senior Ranks With CFO, HR Chief Appointments

Snap CEO and co-founder Evan Spiegel has turned in house to fill the company’s CFO and head of human resources positions, completing an overhaul of the Snapchat parent’s executive ranks after a series of high-level departures.

The company announced the appointment of Derek Andersen, currently Snap’s VP of finance, as chief financial officer. Andersen will take over the CFO duties of Lara Sweet, interim finance chief and chief accounting officer, who has been appointed chief people officer. Both execs report to Spiegel.

“I am thrilled to announce the promotions of Derek and Lara, which reflect their strengths as leaders,” Spiegel said in a statement. “We’re confident that Derek brings important stability to this vital role, given his strong financial expertise and impressive accomplishments working together with our team.” Regarding Sweet, Spiegel commented, “Lara has provided seamless continuity throughout the transitions in our finance team. I’ve long admired Lara’s approach to building culture and managing talent, so when she asked me for the opportunity to focus on people I was thrilled for her to step into this role.”

It’s the latest shuffle by Spiegel of his lieutenants, as he tries to get Snap pointed on a growth trajectory in 2019. Departures from Snap’s senior management ranks in the past year include to CFO Tim Stone, VP of marketing Steve LaBella, chief strategy officer Imran Khanchief content officer Nick Bell, and head of ad sales Jeff Lucas (now at Verizon Media).

The new appointments for Andersen and Sweet come after other key hires. Last month, Snap announced the hiring of its first chief marketing officer, Kenny Mitchell, a consumer-marketing veteran who has worked at McDonald’s, Gatorade, NBC Sports Group and NASCAR. That came after it recruited three other senior execs: Jeremi Gorman, chief business officer, former head of ad sales at Amazon; Jared Grusd, chief strategy officer, ex-CEO of Huffington Post; and Julie Henderson, chief communications officer, formerly with 21st Century Fox.

Andersen, 41, joined Snap in July 2018 after a seven-year stint at Amazon, where he most recently was VP of finance supporting Amazon’s digital video business. He also previously served in roles at Fox Interactive Media, including as VP of finance and SVP, finance and business operations for IGN.

In the CFO position, Andersen will have an annual salary of $500,000 and received a new restricted stock award for 750,000 shares of Snap stock (vesting over four years), according to a regulatory filing Monday.

Sweet, 44, was controller and chief accounting officer at AOL before joining Snap in June 2016. At Snap, she has served multiple roles in the company’s finance organization, including interim CFO, chief accounting officer, and VP, controller. During her tenure as interim CFO, Sweet managed day-to-day operations of the company’s finance, accounting, and people teams. Earlier in her career, she worked in finance positions at Freddie Mac and Marriott International.

More Digital

  • Fubo Sports Network

    FuboTV Launches Free, Ad-Supported Streaming Sports Network

    FuboTV, one of the players duking it out in the competitive internet pay-TV arena, is dropping into the free streaming-video market with a network it wants to distribute as widely as possible — off its own platform. On Thursday, the company is soft-launching the Fubo Sports Network: a live, free-to-consumer TV network for U.S. sports [...]

  • BTS World

    BTS World Mobile Game From K-Pop Group Rockets to No. 1 Spot on App Charts Worldwide

    BTS, the biggest K-pop group in the world, now has the biggest app in the world. “BTS World,” a mobile simulation game that lets fans virtually become the South Korean pop stars’ manager, quickly rose to the top of Apple’s App Store charts in multiple countries just hours after its release on Wednesday, June 26. [...]

  • Discovery Names Andrew Georgiou Eurosport and

    Discovery Taps Andrew Georgiou as Eurosport and Sports Rights Boss

    Andrew Georgiou has been appointed president of Discovery-owned Eurosport. The sports channels and streaming service has been without a chief since Peter Hutton left for Facebook. Georgiou assumes a wider role than Hutton, running Eurosport as well as overseeing sports rights and marketing across Discovery. It has been moving aggressively into the sports sector, licensing [...]

  • Can a Studio Make Movies for

    Listen: Can a Studio Make Movies for VR?

    STX Entertainment is best known for movies like “The Upside” and “Ugly Dolls,” but it also has a division dedicated to creating virtual-reality movies like the recent action short “The Limit.” STXsurreal is working on over a dozen films in a variety of genres, according to its founders, Rick Rey (pictured, right) and Andy Vick. [...]

  • Kathryn Friedrich

    Condé Nast Entertainment Taps Ex-RYOT Studio Head Kathryn Friedrich for New Role

    Condé Nast Entertainment hired Kathryn Friedrich, a YouTube and Google alum who most recently headed Verizon’s RYOT Studio, to the newly created role of EVP, operations and general manager. Friedrich started in the new gig this week, reporting to Condé Nast Entertainment president Oren Katzeff, who joined the company last year from Tastemade. Based in [...]

More From Our Brands

Access exclusive content