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Snap names Amazon's Tim Stone as CFO

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Snapchat-owner Snap Inc said Tim Stone, an Amazon.com Inc veteran who had led the integration of Whole Foods acquisition, would replace Andrew Vollero as chief financial officer.

[BENGALURU] Snapchat-owner Snap Inc said Tim Stone, an Amazon.com Inc veteran who had led the integration of Whole Foods acquisition, would replace Andrew Vollero as chief financial officer.

Snap's shares were up more than 1 per cent at US$10.86 after the bell on Monday.

Mr Stone, 51, has been with Amazon since March 1998 and led the online giant's physical stores until February 2018, according Snap's regulatory filing.

Mr Stone will take charge on May 16, while Mr Vollero will remain as an adviser until August 15, the company said in the filing.

"He (Vollero) has done an amazing job as Snap's first CFO, building a strong team and helping to guide us through our transition to becoming a public company," said Snap chief executive officer Evan Spiegel.

Mr Stone will have a annual salary of US$500,000, according to the regulatory filing.

REUTERS

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