Snap Inc. promoted Derek Andersen from vice president of finance to chief financial officer.
Andersen replaces Tim Stone, who left Snapchat’s parent company earlier this year.
In addition, Lara Sweet, who had been serving as interim CFO and chief accounting officer, is shifting over to the new role of chief people officer.
Andersen and Sweet report to CEO Evan Spiegel.
Sweet will oversee the company’s global talent acquisition and management strategies and processes, human resource functions and the “overall team experience,” also continuing as CAO until a replacement is named.
Spiegel said in a release detailing the two appointments, “Derek has played a critical role in building our finance function since joining Snap almost a year ago, as well as leading our cost-efficiency initiatives and strategic planning processes. We’re confident that Derek brings important stability to this vital role, given his strong financial expertise and impressive accomplishments working together with our team.”
He continued, “Lara has provided seamless continuity throughout the transitions in our finance team. I’ve long admired Lara’s approach to building culture and managing talent, so when she asked me for the opportunity to focus on people, I was thrilled for her to step into this role. We are excited to see her lead our people-focused initiatives, which will emphasize Snap’s talent as a core advantage for our business.”