Jeff Lucas, Snap Inc.’s VP of Sales, has left the company, Cheddar has learned.
His departure comes after working for less than two years at Snap. Before that he served as ad sales chief at Viacom. At Snap, Lucas was tasked with leading the ad sales organization during the rollout of its programmatic ad system, which accounted for more than 90% of the company’s sales in the last quarter.
Lucas’s departure was announced internally to Snap employees on Monday, according to a person familiar with the matter. A Snap spokesperson confirmed his departure to Cheddar but declined to comment further. Lucas's responsibilities will be divided among a small group of managers that now lead Snap's sales teams around the world.
Lucas is the seventh Snap executive to leave the company since its initial public offering in early 2017, and his departure comes less than one month after VP of Product Tom Conrad announced his plans to leave Snap and retire from the tech industry.
Snap largely failed to meet Wall Street’s expectations for its first year as a public company. But its stock is now hovering above its IPO price after beating expectations last week for its fourth quarterly earnings.
Reporting by Alex Heath.