Snap forced two senior executives after an internal investigation of alleged inappropriate relations with an outsider, the Wall Street Journal reported. with a contractor, the newspaper reports, citing sources. Racioppi claims he had an affair with a woman he hired, and then terminated his contract after the relationship was interrupted, according to the report. Although he was not directly involved in the situation, he recruited Racioppi, who reported to him, according to the newspaper.
Racioppi told the magazine he did not do anything wrong and planned to hire a lawyer to challenge the findings. The company rejected Deadline's request for comment.
The departure marks the last wave of executive exits from the company for short messages. Earlier this week, Chief Financial Officer Tim Stone resigned after just eight months of work. The withdrawal of the former Amazon veteran shook Wall Street, which penalized the company's stocks even when analysts raised questions about the company's future. to be the new CFO, "writes Michael Nathanson, an analyst at MoffettNathanson. "After a catastrophic year of mistaken steps after the IPO, we thought that much of the bad news was in the stock and that a new CFO coming from Amazon would quickly adjust the price of the shares if not the operations. That's not exactly right. "
The influential analyst knocks down Snap for a series of flawed steps, including the inability to build an attractive Android app for non-US users, who failed to increase US consumer base for users over age. out of 35, and to move too slowly to adopt an auction based auction system.
There are huge instabilities in Snap's executive units. Other heads of office are former chief executive director Imran Kahn, vice president of content, Nick Bell, head of global strategic partnerships, Elizabeth Herbst-Brady and former CFO Drew Volero.