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Jeremi Gorman, Snap's new chief business officer, speaks in New York in 2015, when she was head of North American sales at Amazon Media Group. Photo: Grant Lamos IV/Getty Images for AWXII

Snapchat is replacing outgoing Chief Strategy Officer Imran Khan with 2 executives — one that will oversee ads and monetization and one that will oversee content and strategy.

Why it matters: Investors have been bearish on Snap’s ability to grow its ad business, causing its stock to decrease by more than half of its worth at the time of its IPO last March.

The big picture: Khan announced earlier this year he was exiting to pursue other opportunities. He had led the company since it was just over 100 people and helped it grow to a staff of more than 3,000. As the person who oversaw business and ad sales, he helped increase the company's revenue to roughly $1 billion in 2 years.

Details:

  • Jeremi Gorman joins as chief business officer, managing ad sales, customer operations and marketing. She was previously the head of ad sales at Amazon.
  • Jared Grusd joins as chief strategy officer, overseeing content, global strategy, partnerships and corporate development. He was previously CEO of the Huffington Post.

A few other high-level hires were also announced:

  • Jean Gonié, director of EU policy (previously director of public policy at Amazon)
  • Alston Cheek, director of platform partnerships (previously partnerships manager at Apple)
  • Steen Strand, director of product design for Snap Lab (previously COO and president at ICON Aircraft)
  • Ted Suh, head of music partnerships (previously VP of digital music at ByteDance)
  • Kristin Southey, VP of investor relations (previously SVP, finance and investor relations at Athene)

What to watch: Snapchat reports earnings Thursday.

Go deeper

Behind GameStop's latest stock surge

Illustration: Aïda Amer/Axios

Back in focus: The meme stock trade.

By the numbers: GameStop finished up 19%, after a wild day that saw shares spike as much as 80%.

AT&T spins off U.S. video business via deal with TPG

Photo: AaronP/Bauer-Griffin/GC Images

AT&T is spinning off three of its video services, including its satellite TV brand DirecTV, to create a new standalone video company called New DIRECTV.

Details: The company will be jointly owned by AT&T and private-equity giant TPG. AT&T will retain a 70% stake and TPG will own 30% of the firm.

Updated 2 hours ago - Sports

Ex-USA Gymnastics coach dies by suicide after being charged with human trafficking

John Geddert. Photo: AFP via Getty Images

The body of John Geddert was found on Thursday, just hours after the former USA Gymnastics coach was charged with 24 counts of criminal misconduct, according to Michigan Attorney General Dana Nessel.

What they're saying: “My office has been notified that the body of John Geddert was found late this afternoon after taking his own life. This is a tragic end to a tragic story for everyone involved," Nessel said in a statement.

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