“We have said since the IPO that a bet on SNAP was also a bet on Evan Spiegel’s product innovation ability,” he wrote. Spiegel controls Snap and is viewed by many as a product savant, so a lot of investors have kept hope that his product expertise would keep Snapchat going amid other turmoil.īut BTIG’s Rich Greenfield, who downgraded the company to “sell” this week, is no longer buying that argument. “We see the exit of both CFO Drew Vallero and CSO Imran Khan as troubling given how early on it is in the business transition,” analysts from investment bank Jefferies wrote this week. 2 exec behind CEO Evan Spiegel - announced he was also leaving. This past Monday, Imran Khan - the company’s No. Since going public, Snap has lost its CFO, VP of product, VP of sales, VP of engineering and its general counsel. Snap’s executive team has been anything but stable since the company’s IPO in March 2017.
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