Snap shares perk up as Amazon finance veteran takes the reins

Snap CEO

Snap’s shares perked up after reaching an all-time low last week, shortly after announcing plans to replace its finance chief with an Amazon veteran.

Snapchat’s parent company was bumped up by more than 4pc after markets opened following the announcement that Tim Stone, who oversaw Amazon’s integration of the retail giant’s $13.7bn Whole Foods acquisition, would replace Andrew Vollero as chief financial officer.

Vollero was Snap’s first ever finance boss and the man responsible for helping it transition from a tech startup to a public company in March last year. He will be replaced by Stone on May 15.