Snap Appoints Chief Financial Officer and Chief People Officer

Derek Andersen Appointed Chief Financial Officer; Lara Sweet
Appointed Chief People Officer

SANTA MONICA, Calif.–(BUSINESS WIRE)–Snap Inc. (NYSE: SNAP) today announced the appointment of Derek
Andersen, currently Snap’s Vice President of Finance, as Chief Financial
Officer. Mr. Andersen will take over the responsibilities of interim CFO
Lara Sweet and report to CEO Evan Spiegel.


Snap also announced the appointment of Lara Sweet as Chief People
Officer. In this new role, Ms. Sweet will oversee Snap’s global talent
acquisition and management strategies and processes, human resource
functions and the overall team experience. She will report to Mr.
Spiegel in this capacity, and continue as Chief Accounting Officer until
a replacement is named. Both appointments are effective immediately.

“I am thrilled to announce the promotions of Derek and Lara, which
reflect their strengths as leaders,” Mr. Spiegel said. “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.”

Mr. Spiegel 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.
I am confident that with Derek and Lara’s leadership in these key
functions, we will continue to execute against our long-term vision.”

Mr. Andersen said, “I am honored to play a deeper role in ensuring that
Snap is best positioned to create value for our community, partners, and
investors over the long term. I look forward to continuing to work with
our talented finance team and helping drive us along our path towards
break-even.”

Ms. Sweet said, “Since assuming the role of interim CFO near the
beginning of this year, I have also taken on the responsibilities of
managing our People teams. I am excited to have the opportunity to focus
full-time on this critical area of our business, and to help foster a
culture and team at Snap that will enable our continued success.”

Derek Andersen Biography

Mr. Andersen has served as Snap’s Vice President of Finance since July
2018. During his tenure at Snap, Mr. Andersen has played an important
role in spearheading the development and implementation of best
practices across Snap’s finance and reporting functions. Mr. Andersen
was previously employed at Amazon.com, Inc., serving in a variety of
roles over seven years, most recently as Vice President of Finance
supporting Amazon’s digital video business. Mr. Andersen also previously
served in roles at Fox Interactive Media, including as Senior Vice
President, Finance and Business Operations for IGN, and as Vice
President, Finance.

Mr. Andersen holds a BBA from Acadia University, an MBA from the Haas
School of Business at the University of California, Berkeley, and is a
CFA Charter Holder.

Lara Sweet Biography

Ms. Sweet joined Snap in 2016 and has served multiple roles in the
company’s finance organization, including interim CFO, Chief Accounting
Officer, and Vice President, Controller. During her tenure as interim
CFO, Ms. Sweet managed the day to day operations of the finance,
accounting, and people teams. Prior to joining Snap, Ms. Sweet served as
Controller and Chief Accounting Officer at AOL, Inc., and previously
served as Vice President, Internal Audit, and Vice President,
Controller. She has also held the positions of Senior Director, External
Reporting at Freddie Mac and Manager, Internal Audit at Marriott
International.

Ms. Sweet holds a BS in Accounting from George Mason University.

About Snap Inc.

Snap Inc. is a camera company. We believe that reinventing the camera
represents our greatest opportunity to improve the way people live and
communicate. We contribute to human progress by empowering people to
express themselves, live in the moment, learn about the world, and have
fun together. For more information, visit snap.com.

Contacts

Investors and Analysts:
[email protected]

Media:
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Abi Genis, Sard Verbinnen
[email protected]

Hayley Fahey, Sard Verbinnen
[email protected]

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