Snap's stock falls in pre-market as its chief strategy officer quits 'to pursue other opportunities'
- Snap Inc's chief strategy officer Imran Khan is leaving after three years with the company.
- Snap's share price is down 1.8% in pre-market trade on the back of the news.
- You can follow Snap's live share price on Markets Insider.
Snap's chief strategy officer is leaving the company "to pursue other opportunities", the company said Monday.
Imran Khan told Snap Inc, the parent company of messaging app Snapchat, he wanted to leave last week, according to a filing with the US Securities and Exchange Commission. His final day on the job has not yet been set and he will help "assist with an effective transition of his duties and responsibilities," Snapchat said.
Snapchat CEO Evan Spiegel said in the SEC filing: "Imran has been a great partner building our business. We appreciate all of his hard work and wish him the best.
"There is never a perfect time to say goodbye, but we have a stellar leadership team in place to guide Snap through the next chapter, and I plan to stay on to ensure a very smooth transition."
Snapchat said Khan's departure "is not related to any disagreement with us on any matter relating to our accounting, strategy, management, operations, policies, or practices (financial or otherwise)."
Former Credit Suisse banker Khan joined Snapchat in 2015 as part of efforts to prepare the company for IPO. Snapchat went public at $17 a share in March last year. Its stock price has come under pressure in recent months after a controversial re-design and it is currently trading at a record low.