Snap’s (NYSE:SNAP) leader of its Snap Lab division is no longer with the company.
The information about the change of leadership at Snap Lab comes from a leaked internal email. This email comes from former division head Mark Randall. He tells employees that the Spectacles division is becoming closer to the company’s Lens Studio.
As a result of this change, Snap Lab has been dealing with layoffs of its employees. Now that Randall is no longer with the company, Snap Senior Vice President Jerry Hunter is taking over as the head of the division.
“For my own next steps, I’ll be focusing on growing my own company, where I’ll be advising young, private companies, participating in early-stage investing and working on other passion projects,” Randall says in his email to Snap Lab employees.
Randall’s email to employees about leaving the company and the other changes it is going through comes from two weeks ago. The information has been verified by a spokesperson for Snap. There’s also confirmation that the changes aren’t due to the recent launch of the second-generation Spectacles a few months ago, reports Cheddar.
Despite claims to the contrary, Snap Lab’s Spectacles haven’t been the success that Snap was hoping for. When 2017 came to an end, the company had to write-off about $40 million in unsold inventory of the device.
Spectacles are a pair of glasses that include a camera. This camera allows users to record 10-second clips that they can then share online. The device sells for $129.99, Forbes notes.
As of this writing, William White did not hold a position in any of the aforementioned securities.
