- Snap (NYSE:SNAP) recently ousted two senior execs following a probe that found one had an inappropriate relationship with a contractor, The Wall Street Journal reports.
- Shares are down 1.5% on heavy after-hours volume.
- Late last year the company fired Francis Racioppi, head of global security, after it reportedly found he had an affair with a woman he had hired and then terminated her contract when the relationship ended, according to the report. Racioppi maintains he did nothing wrong and said he retained an attorney.
- Meanwhile, the company's head of human resources, Jason Halbert, said he'd leave the company this week. He wasn't directly involved in the situation but had recruited Racioppi, adn WSJ says Snap chief Evan Spiegel asked Halbert to leave.
- Those moves predated the most serious recent executive departure, that of CFO Tim Stone after less than an eight-month tenure at the beleaguered company.
- Snap shares rose 7.7% during the regular session.
- Now read: Snap CFO Resigns: Why I'm Not Interested
Original article