Snap’s New Financial Leader and a Shift in Focus

Snap Inc. has named Doug Hott as its new Chief Financial Officer, succeeding Derek Andersen who will depart after nearly eight years with the company.

The announcement follows recent layoffs and is part of Snap’s effort to return to profitability. Andersen will make his final earnings call on May 6 and leave the firm on May 8, per internal communications from CEO Evan Spiegel.

Spiegel praised Andersen for guiding Snap through challenging periods—including the pandemic and advertising shifts—and highlighted that the company is now on a clear path to net profit.

Organizational Restructuring

• Workplace Experience will be moved under Chief People Officer Scott Withycombe.
• Content will join the product group led by Ceci Mourkogiannis.

Spiegel said the goal is to create a leaner organization that better supports employees, users, and partners.

Market Impact

• Snap’s stock edged up to about $6 on Monday, though it has fallen roughly 26% this year.
• Analysts predict first‑quarter revenue of $1.52 billion.
• Market data shows a weak momentum score, indicating short‑term strength but medium‑ and long‑term weakness.