May 22, 2019 – Snap Inc. has announced the appointment of Derek Andersen, currently Snap’s Vice President of Finance, as Chief Financial Officer. Mr. Andersen will take over the responsibilities of interim CFO Lara Sweet and report to CEO Evan Spiegel.
Snap also announced the appointment of Lara Sweet as Chief People Officer. In this new role, Sweet will oversee Snap’s global talent acquisition and management strategies and processes, human resource functions and the overall team experience. She will report to Mr. Spiegel in this capacity, and continue as Chief Accounting Officer until a replacement is named. Both appointments are effective immediately.
“I am thrilled to announce the promotions of Derek and Lara, which reflect their strengths as leaders,” said Spiegel. “Derek has played a critical role in building our finance function since joining Snap almost a year ago, as well as leading our cost efficiency initiatives and strategic planning processes. 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.”
Spiegel continued: “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. We are excited to see her lead our people-focused initiatives, which will emphasize Snap’s talent as a core advantage for our business. I am confident that with Derek and Lara’s leadership in these key functions, we will continue to execute against our long-term vision.”
On his appointment, Andersen said: “I am honored to play a deeper role in ensuring that Snap is best positioned to create value for our community, partners, and investors over the long term. I look forward to continuing to work with our talented finance team and helping drive us along our path towards break-even.”
On being appointed Chief People Officer, Sweet commented: “Since assuming the role of interim CFO near the beginning of this year, I have also taken on the responsibilities of managing our People teams. I am excited to have the opportunity to focus full-time on this critical area of our business, and to help foster a culture and team at Snap that will enable our continued success.”
Image credit: Snap Inc.
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past five years.