Two Execs Exit Snap Regarding An Alleged Inappropriate Relationship

Two Execs Exit Snap Regarding An Alleged Inappropriate Relationship

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NEW YORK (CelebrityAccess) Two senior executives at Snap have been forced out of the company after an internal investigation into an alleged inappropriate relationship with an outside contractor, according to the Wall Street Journal.

Francis Racioppi, head of global security, was fired after an investigation concluded regarding a relationship Racioppi had with the contractor, according to the WSJ. His superior, Snap’s head of human resources, Jason Halbert, also announced plans to leave the company. Although Halbert was not directly involved in the situation, he is responsible for recruiting Racioppi to the company and Racioppi reported to him, the paper said.

Racioppi told the WSJ he had done nothing wrong and plans to hire an attorney to challenge the findings.

The announcement comes on the heels of the exit of CFO Tim Stone, who had been on the job for only eight months. The exit of Stone, a former Amazon exec,led to SNAP stock dropping 14 percent. Bloomberg said Stone went around CEO Evan Spiegel to ask the board of directors for a raise, which heightened tensions between the two.

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