Snap names Doug Hott as CFO
Doug Hott will be replacing Derek Andersen who expected to leave on May 8
by
Published: Apr 21, 2026 1:21 PM | 1 min read
Follow Us
- Snap Inc. has appointed Doug Hott as the new Chief Financial Officer (CFO), succeeding Derek Andersen, who will leave the position on May 8 after seven years.
- Hott previously served as the company's vice president of finance, strategy, and corporate development.
- The leadership change follows Snap's recent layoffs of 1,000 employees, representing 16% of its full-time workforce, as part of a broader trend among tech companies to streamline operations.
- CEO Evan Spiegel praised Andersen for his contributions during challenging times, including the pandemic and economic shifts, while expressing confidence in Hott's capabilities for the CFO role.
Snapchat-parent Snap has named Doug Hott as its new CFO, replacing Derek Andersen.
Hott is currently the company's vice president of finance, strategy, and corporate development.
Andersen, who has been in the role for seven years, is expected to leave on May 8.
The move comes soon after the social media firm last week laid off 1,000 employees, including 16 per cent of full-time staff, becoming the latest technology company to shift towards leaner teams, a news agency reported.
In an internal mail, Snap Inc CEO Evan Spiegel wrote:
“Derek has been a great partner to me and to our business and has helped us navigate some of the most challenging periods in our history, including the pandemic, ad platform transition, and several macroeconomic shocks. He has always done so with a keen eye to Snap’s long term prosperity and a commitment to doing what is best for our business.
I’m excited to share that Doug Hott will assume the CFO role upon Derek’s departure, building on nearly seven years of close partnership with me across our strategic planning processes, capital allocation, and restructuring efforts.”
Read more news about People Movement, Internet Advertising, Marketing, Digital Media, PR and Corporate Communication
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook, YouTube & Google News