Snap hires Amazon's Stone as new chief financial officer
In a crisp 8-K documenting, Snap says it's employing Amazon.com veteran Tim Stone as its new CFO.
Stone will supplant Andrew Vollero, who's leaving the part May 15.
"On May 4, 2018, we and Andrew Vollero, our Chief Financial Officer, concurred that he will leave Snap," the recording says. It's not because of a conflict with the organization.
After May 15, Vollero will turn into a non-representative consultant through Aug. 15, and get a single amount of one year of base compensation and one year of COBRA premiums, and in addition quickened vesting of limited stock units.
Stone, who's been at Amazon since 1998 and is right now VP of Finance, will begin as CFO May 16 with a yearly pay of $500,000 and with RSUs worth $20M, and 500,000 alternatives on shares.
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