- Snap Inc's chief strategy officer, Imran Khan, is leaving after three years with the company.
- Snap's share price fell in premarket trade and once the stock market opened on Monday on the back of the news.
- You can follow Snap's live share price on Markets Insider.
Snap's chief strategy officer is leaving the company "to pursue other opportunities," the company said Monday.
Imran Khan told Snap Inc., the parent company of the messaging app Snapchat, last week that he wanted to leave, according to a filing with the US Securities and Exchange Commission. His final day on the job has not been set, and he will help "assist with an effective transition of his duties and responsibilities," Snap said.
"Imran has been a great partner building our business," Snap CEO Evan Spiegel said in the SEC filing. "We appreciate all of his hard work and wish him the best."
In the filing, Khan said that there was "never a perfect time to say goodbye" but that the company had "a stellar leadership team in place to guide Snap through the next chapter, and I plan to stay on to ensure a very smooth transition."
Snap said Khan's departure was "not related to any disagreement with us on any matter relating to our accounting, strategy, management, operations, policies, or practices (financial or otherwise)."
A former Credit Suisse banker, Khan joined Snapchat in 2015 as part of efforts to take the company public. Snap Inc. went public at $17 a share in March last year. Its stock price has come under pressure in recent months after a controversial redesign, and it is now trading at a record low.
Snap's share price fell by as much as 1.8% in premarket trading Monday after news of Khan's departure. Shares are down 1.2% to $9.81 on the New York Stock Exchange as of 9.45 a.m. ET (2.45 p.m. BST).
