Snap CFO Tim Stone resigns

Brendan McDermid | Reuters

A banner for Snap Inc. hangs on the facade of the the New York Stock Exchange on the eve of the company’s IPO in New York.

Snap chief financial officer Tim Stone is resigning to pursue other opportunities, the company said in a new filing Tuesday that sent the stock tumbling more than 8 percent after hours. Stone’s reign lasted less than a year: he joined from Amazon in May 2018, with an annual salary of $500,000 and restricted stock units worth $20 million, set to vest over four years.

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