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Snap names new CFO, chief people officer

Snap Inc. promoted Derek Andersen to CFO of the company.

Lara Sweet, who was named interim CFO after the departure of Tim Stone, will now become chief people officer of Snap, according to a May 20 news release.

In this new role, Sweet will oversee Snap's global talent acquisition and management strategies, and processes and human resource functions. Sweet will continue as chief accounting officer until a replacement is named.

Both appointments are effective immediately.