(Reuters) – Snap Inc (SNAP.N) said on Wednesday it had hired Amazon.com Inc’s (AMZN.O) head of advertising Jeremi Gorman as its chief business officer and HuffPost media company Chief Executive Jared Grusd as chief strategy officer.
A logo of Snap is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson
The moves were disclosed in an internal memo shared by Snap.
Snap shares were briefly up 2.5 percent on the news, first reported by CNBC, before falling flat on Wednesday.
Last month, Snap said its Chief Strategy Officer Imran Khan would step down, with his last day still undetermined.
Khan was the latest top-level exit from the company amid pressure to stem a drop in users following a controversial redesign of the Snapchat app. Snap has set of goal of becoming profitable next year by growing users and ad sales.
Gorman, who oversaw Amazon’s growth into one of the world’s biggest ad sellers, and Grusd will start in the coming weeks, Snap said.
Snap did not previously have a chief business officer overseeing its ad sales organization.
Grusd will lead Snap’s partnership and acquisition efforts.
Jean Gonie, Snap’s director of European Union policy, joined this month from Amazon, and Steen Strand, a director of product design, also joined this month from Icon Aircraft, where he was chief operating officer and president, Snap said.
Reporting by Munsif Vengattil in Bengaluru; Additional reporting by Paresh Dave in San Francisco; Editing by Shailesh Kuber and Tom brown