Snap Is Losing Its Engineering Chief at the Worst Possible Time
Things aren't going so well for Snap (NYSE: SNAP) today, after the Snapchat operator reported dismal third-quarter results last night. As if that weren't enough, Snap is also now losing its engineering chief, Tim Sehn. The Information first reported on the departure, which was quickly confirmed in Snap's 10-Q for the quarter. Sehn told Snap yesterday that he was calling it quits:
On November 7, 2017, Tim Sehn notified us that he would resign as Senior Vice President of Engineering, effective on December 1, 2017. Jerry Hunter, who is currently our Vice President of Core Engineering, will assume Mr. Sehn's responsibilities.
On November 7, 2017, we entered into an option agreement amendment with Mr. Sehn to extend the exercise period for Mr. Sehn's nonstatutory stock options from three months to twelve months after the termination of his continuous service. All other terms related to Mr. Sehn's nonstatutory stock options will remain in accordance with existing terms.
Source: Fool.com
