- Bertrand Lanciault III, also known as Lance Lanciault, quit the role of Peloton Interactive, Inc’s (NASDAQ:PTON) head of compliance and risk for Snapchat parent Snap Inc (NYSE:SNAP).
- Lanciault joined Snap in August as the new chief compliance officer, the WSJ reports.
- Lanciault joined Peloton in February 2021 after spending more than six years at Walmart Inc’s (NYSE:WMT) e-commerce team, serving as the chief ethics and compliance officer there.
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- Michael Del Negro joined Peloton in January as its VP of product safety compliance and became the acting head of compliance, risk, and ethics in August.
- Lanciault departure follows Peloton’s cost-cutting measures after reduced demand for its fitness equipment.
- Peloton has struggled with losses on pandemic recovery as more consumers opted for gyms and outdoor activities.
- Snap also battled intense competition and had to abort plum projects amid cost cuts that alarmed analysts.
- Price Action: SNAP shares traded lower by 2.01% at $10.25 on the last check Friday.
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