Snap says CFO plans to leave, stock falls in late trading

Snap Inc. disclosed Tuesday afternoon that its chief financial officer, Tim Stone, plans to leave the company to "pursue other opportunities." Shares declined about 3% in late trading after the announcement. In a filing with the Securities and Exchange Commission, Snap said that a date for Stone's departure has not been set, and that the official will remain at least through the earnings announcement planned for next month. Stone has been at Snap for less than a year, after being lured from Amazon.com Inc. in May 2018. Stone was one of the most prominent execs to arrive at Snapchat's parent company last year, when a wave of executive departures created concerns about the company's future. Snap shares gained 3.7% in Tuesday's regular session, but declined in after-hours trading following the disclosure.

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