Snap’s New Financial Leader and a Shift in Focus

Snap Inc. has named Doug Hott as its new chief financial officer, following the exit of Derek Andersen after almost eight years with the company. The change comes just days after Snap announced layoffs, as the firm aims to become profitable again. Andersen will make his last earnings call on May 6 and leave the company on May 8, according to internal communications from CEO Evan Spiegel. Spiegel praised Andersen for steering Snap through tough times, such as the pandemic and advertising changes, and said the company is now on a clear path to net profit.Alongside the CFO swap, Snap is reorganizing its teams. Workplace experience will move under Chief People Officer Scott Withycombe, while content will join the product group led by Ceci Mourkogiannis. The goal is to create a leaner organization that better supports employees, users and partners, Spiegel explained. Snap’s stock edged up to about $6 on Monday, though it has dropped roughly 26% this year. Analysts predict first‑quarter revenue of $1. 52 billion. Market data shows a weak momentum score, suggesting short‑term strength but medium‑ and long‑term weakness.