Snapchat’s Strategy Chief Imran Khan Set to Step Down

Exec’s exit is not due to any disagreements on “accounting, strategy, management, operations, policies, or practices (financial or otherwise)” says Snap Inc.

Imran Khan Snapchat
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Snap Inc. chief strategy officer Imran Khan, one of the select members of CEO Evan Spiegel’s braintrust, is leaving the company, according to a regulatory filing on Monday.

Khan will continue as CSO for an interim period before stepping down, according to a SEC filing. A date for Khan’s exit hasn’t been set.

Khan’s departure “is not related to any disagreement with us on any matter relating to our accounting, strategy, management, operations, policies, or practices (financial or otherwise),” the company said in its filing.

“After nearly four years at Snap, I have decided to step down,” Khan said in a staff email obtained by CNBC. “This has been a very difficult decision for me to make. There is never a perfect time to say goodbye, but I know that the time is now. We have a stellar leadership team in place to guide Snap through the next phase of growth and on to the next chapter.”

Khan has held the role since joining from Credit Suisse in 2014. He notified the Snapchat parent company of his plans to exit on Sept. 6, according to the filing.

“Imran has been a great partner building our business. We appreciate all of his hard work and wish him the best” Spiegel said in an accompanying statement.

Snap reported strong revenue growth last month, with a 44 percent year-over-year Q2 sales increase, hinting Snapchat has been able to attract more advertisers. But that positive momentum was offset by the app losing 3 million users. Snap shares were down about 2.5 percent on Monday morning to $9.75 per share — marking a healthy dip from its $17 IPO in early 2017.

Khan’s exit follows Snap’s CFO leaving the company in May.