APPS
APPS
APPS
Two senior execs leave Snap following ‘inappropriate relationship’ scandal
Turmoil in the senior ranks of Snap Inc. continues amid reports that the company has lost two more senior executives following a scandal over an inappropriate relationship.
Cheddar reported Friday that Francis Racioppi, Snap’s director of global security, has been fired after an investigation found he had an undisclosed relationship with a woman from a consulting firm to which he paid a six-figure amount of money on behalf of Snap. Worse still, the contract with the consulting firm was allegedly terminated when Racioppi’s relationship with the woman ended.
The firing of Racioppi is said to have led to the departure of Jason Halbert, Snap’s vice president of people and global security. The Wall Street Journal claimed that Halbert was asked by Snap Chief Executive Officer Evan Spiegel to resign because of the Racioppi situation and “other issues related to his performance.” Racioppi did not report directly to Halbert but the two are claimed to have been close.
Another employee, Corey Webeck, Snap’s manager of global resiliency, is reported to have been fired for allegedly assisting Racioppi to cover up the scandal. In his only comment so far, Racioppi told the Journal that he did nothing wrong and had retained a lawyer to challenge “the veracity of the investigation as well as the results.”
The news comes less than a week after it was announced that Snap Chief Financial Officer Tim Stone was leaving the company after only eight months on the job. Officially Stone was leaving to pursue other opportunities.
Losing yet another two senior executives will only add to investor concerns about how Snap is being managed. Since September, Snap has lost Chief Strategy Officer Imran Khan, Vice President of Content Nick Bell, Vice President of Marketing Steve Labella and Vice President of Business Solutions Kristen O’Hara.
The loss of Stone caused Snap’s share price to drop 8 percent after it was announced. The reported loss of two more senior executives is likewise unlikely to be received well by investors once markets reopen Monday morning.
Photo: Justraveling/Wikimedia Commons
Since you’re here …
… We’d like to tell you about our mission and how you can help us fulfill it. SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.The journalism, reporting and commentary on SiliconANGLE — along with live, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take a lot of hard work, time and money. Keeping the quality high requires the support of sponsors who are aligned with our vision of ad-free journalism content.
If you like the reporting, video interviews and other ad-free content here, please take a moment to check out a sample of the video content supported by our sponsors, tweet your support, and keep coming back to SiliconANGLE.
