According to a news announcement by US news site Cheddar, Vice President of Sales at Snap Inc., Jeff Lucas, has decided to leave the company.
Lucas joined Snap Inc. two years ago following a role as sales chief at Viacom.
At Snap, he managed the app company’s advertising sales department. Lucas saw Snap through its programmatic ad platform roll-out, which now accounts for the majority (90%) of the company’s advertising sales.
The departure has been announced to employees on Monday, said a person familiar with the issue.
Upon further enquiry, a spokesperson did confirm Lucas’ leaving to Cheddar, but declined to offer further commentary.
For now, it appears that the VP’s responsibilities will be shared among a group of managers in the sales team at Snap.
However, the departure represents yet another blow to a company which has already lost six executives since its IPO in 2017.
It closely follows that of VP of Product, Tom Conrad, who announced his retirement from Snap and the technology sector just a month before.
Snap has had a tough time meeting expectations of investors and shareholders. Following its latest earnings announcement however, things are looking a little better for the company and its stocks have improved.
February 13, 2018