×

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.

Popular on Variety

More Digital

  • netflix latest section

    Netflix Adds Upcoming Titles Section to Its TV App (EXCLUSIVE)

    Netflix is making it easier to keep track of all of its new releases: The company is adding a new “Latest” section to its TV app that includes both listings of newly released titles, as well as movies and TV show seasons that will be released this week and the week after. Upcoming titles are [...]

  • iQIYI headquarters building in Beijing

    Chinese Streamer iQIYI Squeezed by Changing Content Context

    Chinese video streaming giant iQIYI saw its losses deepen, in the April to June second quarter of its financial year. The company grew subscriptions, but was hit by rising content costs and lower advertising revenue Its parent company, Chinese search leader, Baidu saw its year on year profits drop, though it recovered from loss in [...]

  • westworld awakening art

    HBO Launches 'Westworld Awakening' VR Game With Survios

    Ever wanted to enter the world of “Westworld?” Now you can — except it won’t exactly be like you might have imagined it. Instead of being one of those guests living out their fantasies, you will be a host, slowly coming to grips with your life being an elaborate illusion. “Westworld Awakening” has been produced [...]

  • Spotify Announces Upgrades to Family Plan,

    Spotify Announces Upgrades to Family Plan, at No Charge in U.S. and U.K.

    Just days after reports emerged that Spotify is aiming to increase the price of its family plan in its home market of Scandinavia, the streaming giant announced an upgrade to the plan — with no price increase in the U.S. and U.K., where it remains at $14.99 and £15, respectively. A rep for the company [...]

  • Mike Vaughan

    Former Venmo COO Mike Vaughan Joins Stem's Board

    Los Angeles-based music distribution and payments startup Stem has appointed former Venmo executive Mike Vaughan to its board of directors. Vaughan was chief operating officer of Venmo from 2011 until earlier this year, and is now executive in residence at Oak HC/FT. “The music industry can benefit tremendously from innovation in the way money flows [...]

  • Streamy Awards

    Streamy Awards 2019 Return to YouTube for Exclusive Live-Stream

    The 9th Annual Streamy Awards will again be available to stream live on YouTube exclusively. The 2019 awards ceremony will take place at the Beverly Hilton in Beverly Hills on Friday, Dec. 13 and will stream live globally on YouTube via youtube.com/streamys. Videos from the 2018 Streamy Awards received over 6.9 million views on YouTube. [...]

  • Stefan Heinrich Henriquez - Cameo

    Celeb Video-Shoutout Startup Cameo Hires Ex-TikTok Exec Stefan Heinrich Henriquez

    Cameo, a startup that lets consumers purchase video shoutouts from celebrities, tapped Stefan Heinrich Henriquez as chief marketing officer and general manager of international. Heinrich, most recently head of marketing for short-form video app TikTok, will lead the company’s global growth and branding and play a key role in Cameo’s continued global expansion. He’s based [...]

More From Our Brands

Access exclusive content