Snap’s chief strategy officer, Imran Khan, is leaving the company to “pursue other opportunities,” the company said.
Kahn, who was among the team of executives to take the company public last year, plans to start his own investment firm, Bloomberg reports. He’ll remain on the job until a successor is found.
“There is never a perfect time to say goodbye, but we have a stellar leadership team in place to guide Snap through the next chapter, and I plan to stay on to ensure a very smooth transition,” Khan said in a statement this morning.
Snapchat is among the most popular mobile apps among millennials, but it’s facing intensifying competition from Facebook-owned Instagram. This year saw the departure of one of CEO Evan Spiegel’s top lieutenants, Tom Conrad; the head of sales, Jeff Lucas; chief financial officer Drew Vallero; and the vice president of hardware, Mark Randall.
Kahn joined Snap in early 2015 to help the company chart a path to its IPO. He was hired from Credit Suisse, where he was head of global internet investment banking and led the initial stock offering of Chinese e-commerce giant Alibaba. At Snap, he was a close advisor to Spiegel, building out the company’s business functions.
“Imran has been a great partner building our business. We appreciate all of his hard work and wish him the best,” Spiegel said in statement announcing the departure, which noted that Kahn’s departure is not related to any disagreement or matter relating to financial or other business practices.