Platform

Snap CFO Derek Andersen to Depart After Nearly Eight Years, Doug Hott Named Successor

Published on April 22, 2026

Snap Inc. CFO Derek Andersen will step down effective May 8 to pursue another professional opportunity. Doug Hott, Snap’s VP of Finance, Strategy, and Corporate Development, will succeed him.

Andersen joined Snap from Amazon, where he served as VP of Finance, and spent nearly eight years as the company’s chief financial officer. Snap CEO Evan Spiegel credited him with guiding the business through the pandemic, an ad platform transition, and multiple macroeconomic shocks.

“It is fitting that he is departing after creating a clear path to net income profitability,” Spiegel wrote in an internal note to staff.

Hott, also an Amazon alum, joined Snap in 2019 and has held senior finance roles at the company. At Amazon, he worked in finance leadership roles, including with Amazon Studios, and previously held finance positions at Procter & Gamble. Spiegel cited nearly seven years of collaboration with Hott on strategic planning, capital allocation, and restructuring efforts.

Restructuring Context

The CFO transition follows Snap’s April 15 announcement that it would lay off approximately 1,000 full-time employees, representing 16% of its global workforce, and close more than 300 open roles. Snap had roughly 5,260 full-time employees as of December 2025.

Spiegel projected the cuts would reduce Snap’s annualized cost base by more than $500 million in the second half of 2026. For the full-year 2025, the company reported a net loss of $460 million on revenue of $5.931 billion.

Activist investor Irenic Capital Management, which holds 2.5% of Snap’s Class A shares, issued a public letter to leadership in March urging the company to rationalize its cost structure and expand its use of AI. “Like many of your peers, you over-hired. Unlike your peers, you haven’t course-corrected,” the investor wrote.

AI Investment

Snap reported that AI now generates 65% of new code and that its support AI agent handles more than 1 million questions per month. Spiegel framed AI adoption as central to the company’s efficiency drive.

Snap will report first-quarter 2026 results on May 6. Andersen’s final earnings call will coincide with that date before his departure two days later.