Imran khan, Ex Global Head of internet investment banking at Credit Suisse, Joined Snapchat (Snap.Inc) in 2015 is now planning to leave Snap Inc. to pursue other opportunities. According to a filing with the U.S. Securities and Exchange Commission, during this transition period, Khan will continue to serve Snap. Inc as Chief Strategy Officer and his last day with the company has not been decided yet.
Khan mentioned “After three years at Snap, I have decided to step down,” Khan said in an email to staff obtained by CNBC.
He also mentioned that “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.”
According to the SEC filing, Khan’s exit is not related to any disagreements over Snap’s accounting, strategy, management or policies.
Imran Khan with Snapchat
Khan joined Snap in early 2015, as Chief Strategy Officer, and helped the company’s path to an initial public offering – though his official role is to build up revenue, expand the business, and run the ad sales side of the business.
Imran Khan earned ~$150 million with Snapchat after he left Wall Street and was paid a $5 million bonus last year.
Khan’s colleagues describe him as ambitious and strategic in his career choices.- ‘A very strategic thinker’
What Next After Snapchat
Khan is planning to start with his own technology investment firm after he leaves Snap, said Bloomberg.
Is Snap is affected by this?
According to company, he is one of the top executive to leave Snap at a crucial stage for the once high-flying social network, which is owned by Evan Spiegel. There were many exits during the last year. The company’s former head of engineering, Tim Sehn, left in December; its head of product, Tom Conrad, was replaced in March; and Snap brought in a new chief financial officer, Tim Stone, in May.
As a Result. the company’s stock were fallen more than 38 percent over the last six months. It fell over 3 percent on Monday after the announcement about Mr. Khan.