Snap Inc. (NYSE: SNAP) announced that Chief Financial Officer Derek Andersen will leave the company on May 8, 2026, according to a company statement. Andersen notified the company of his departure on April 17, 2026, citing a new professional opportunity.

The company stated that Andersen confirmed his decision was not related to any disagreement regarding accounting, strategy, management, operations, policies, or practices.

Snap plans to appoint Doug Hott, currently Vice President of Finance, Strategy, and Corporate Development, as the new CFO. Hott, 53, has held his current position since July 2024 and previously served as Vice President of Finance from August 2019 to July 2024.

Hott holds a Bachelor of Science in Physics from Bradley University, along with a Master of Science in Astrophysics and an MBA from the University of Cincinnati. The company stated that Hott has no family relationships with board members or executive officers and no material interest in related transactions requiring disclosure under securities regulations.