Snap hires new compliance manager from Peloton

Lance Lanciault, joined Snap in August as the new Chief Compliance Officer, overseeing its compliance and integrity efforts.


Photo:

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 company Snap Inc.

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

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

The news about 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 chief of compliance, risk and ethics and has served in that role since August, a Peloton spokeswoman said Thursday.

Mr. Lanciault’s departure comes as Peloton cuts costs as it sees 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 quarterly loss of $1.2 billion 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 on their way.

Tammy Albarrán, who was most recently 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 mengqi.sun@wsj.com

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