Photos and videos aren’t the only thing to disappear at Snap, Inc. Several of the company’s top executives have quietly left in recent weeks, according to a report by Business Insider.
Since June, Snap’s former vice president of human resources, Robyn Thomas, as well as its vice president of security, Martin Lev, left the company. When Business Insider reached out to confirm the departures, the firm, which recently had its IPO, also revealed that the company replaced its general counsel, Chris Handman, last week.
Thomas, who has been with Snap since May 2015, came to the company from Google, where she served as the search giant’s senior corporate counsel for almost 10 years. Lev has a similar background, having been at Google for more than 12 years before joining Snap (SNAP) in April 2016. Handman, meanwhile, was a partner at Washington, D.C.-based Hogan Lovells for more than 14 years prior to jumping to the Venice, Calif.-based tech firm in May 2014.
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The executive turnover may be a symptom of the challenges facing the company, but it’s unlikely to be a cure. As its stock has continued to fall from its initial public offering in March, Morgan Stanley recently downgraded its shares to hold. But some analysts argue that Snapchat is still a smart buy, especially since the company has a solid strategy for attracting hard-to-reach millennial audiences.
According to Business Insider’s report, former NBCUniversal human resources vice president Kathy Mandato will take over for Thomas. Former Merrill Lynch wealth adviser Francis Racioppi will become the company’s director of global security. And Michael O’Sullivan, who represented Google during its IPO, will be the company’s new general counsel.