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Snap CEO Evan Spiegel named a new chief business officer for his company recently before changing his mind and giving the job to someone else, according to a new report.
- Evan Spiegel, the CEO of Snap, recently named a new chief business officer for the company before changing his mind and giving the job to someone else, Bloomberg reported.
- Kristen O'Hara, the sales executive whom Spiegel first named to the job, has now left Snap.
- O'Hara is only the latest in a line of executives who have left the company this year.
Snap CEO Evan Spiegel recently named a new chief business officer for his struggling company before quickly changing his mind and naming someone else, according to a report from Bloomberg.
Spiegel told Kristen O'Hara, whom the company hired in September to be its vice president of US sales, that she would be promoted to the new role and informed the people who reported to her, according to the report. Two days later however, he withdrew the offer and named Jeremi Gorman, who headed Amazon's
Perhaps not surprisingly, after having the rug pulled out from under her, O'Hara resigned from Snap.
Spiegel confirmed O'Hara's departure and Gorman's hiring in an email sent to Snap employees that a company spokesman shared with Business Insider. He didn't specifically confirm that he offered O'Hara the chief business officer job before retracting that offer, but did say that she left "following our recent changes in team structure."
"In her time here, Kristen had an immediate and positive impact on the company," Spiegel said in the email. He continued: "I will miss the leadership and enthusiasm she brought to the organization."
O'Hara did not immediately respond to a request for comment.
She is the latest in a string of executives to leave Snap. In September, Imran Khan, who had served as Spiegel's top lieutenant as Snap's chief strategy officer, left the company. His departure followed those this year of Drew Vollero, the company's chief financial officer; Jeff Lucas, who had been its head of sales; and Tom Conrad, who had led its product team.
Snap, which makes messaging app Snapchat, has been contending with large financial losses, a plunging stock price, and, now, a declining user base. The company announced last week that its average number of daily users fell 1% from the second to the third quarters.
Spiegel has outsized control over Snap due to its multiclass stock structure, which allows him to run the company with little oversight from shareholders or its board.
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Get the latest Snap stock price here.