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Friday, December 9, 2022

Snap Hires New Compliance Chief From Peloton

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Lance Lanciault, joined Snap in August as the new chief compliance officer, overseeing its compliance and integrity efforts.



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kirill kudryavtsev/Agence France-Presse/Getty Images

The head of compliance and risk at

Peloton Interactive Inc.

has left the company and joined

Snapchat

parent Snap Inc.

Bertrand Lanciault III, who goes by Lance Lanciault, joined Snap in August as the new chief compliance officer, overseeing its compliance and integrity efforts, according to a spokesman for the technology company. He joined Peloton in February 2021 after spending more than six years at

Walmart Inc.’s

e-commerce team, serving as the chief ethics and compliance officer there, according to his LinkedIn profile.

News of Mr. Lanciault’s move to Snap was first reported by Radical Compliance.

Michael Del Negro, who joined Peloton in January as its vice president of product safety compliance, has been named the company’s acting head of compliance, risk and ethics and has served in this role since August, a Peloton spokeswoman said Thursday.

The departure of Mr. Lanciault comes as Peloton cuts costs as it sees a reduced demand for its fitness equipment. Peloton has struggled with losses this year after more consumers returned to gyms and outdoor activities. The company reported a $1.2 billion quarterly loss and a nearly 30% drop in revenue and cut about 800 jobs, the company said in August.

Peloton said earlier this month that its co-founder

John Foley,

its chief legal officer

Hisao Kushi,

and Chief Commercial Officer

Kevin Cornils,

were leaving.

Tammy Albarrán, who most recently was

Uber Technologies Inc.’s

chief deputy general counsel, will become Peloton’s new chief legal officer and corporate secretary, Peloton said in a statement earlier this month. She will oversee the legal, compliance and policy efforts at Peloton.

Write to Mengqi Sun at [email protected]

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