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Governance

Priorities

  • Maintaining a governance structure focused on creating long term shareholder value, transparency, and robust decision-making processes.
  • Selecting a diverse and representative Board of Directors.
  • Doing business responsibly and ethically, and expecting the same of our partners.
  • Integrating a robust enterprise risk framework to anticipate, identify, prioritize, and manage material risks to business objectives.
  • Operating a tax strategy that positions us as a responsible part of communities where we operate.

Snap maintains a governance structure focused on creating long term shareholder value, transparency, and robust decision-making processes.

Board Structure

Our Board consists of two executive officers and eight independent directors. The Chairperson of Snap’s Board is non-executive and independent. Sixty-three percent of our independent directors are current or former Chief Executive Officers of prominent companies, and 50% of our independent directors are women. 

Stock and Voting Structure

Our stock and voting structure brings many benefits: We have the flexibility to fulfill our desire to be a force for good by pursuing a multi-stakeholder operating framework that measures our success not just by corporate valuation but also by what we give back, the way we care for our team, and the value we provide to people who use our products. Our corporate governance structure makes it easier for us to execute on this philosophy, including in the ways evidenced by this report.

Integrity and Compliance

Our corporate citizenship is more than just a collection of great accomplishments; it’s the driver for how we make decisions and behave day to day. We try to do the right thing by our stakeholders regardless of whether the law requires us to do so, or whether it takes more time or costs more.  WE have captured this ethos in our new Code of Conduct, titled “Guide to Kind Business. 

Tax Strategy

At Snap, we view tax not just as a legal obligation but as a way to appropriately support the communities where we operate — in other words, we view it as part of our overall corporate mission. We want to earn the trust of our customers, business partners, and the public, and our tax philosophy is a part of that. But we also want to do the right thing even when no one is looking. We want our tax structure to follow the commercial substance of our business — we don’t want tax considerations pushing our business to do things it wouldn’t normally do.

Data Governance

Snap invests significant resources into data governance, integrity, and accuracy. These efforts give us confidence in the data that we report to the public and use for our own business decisions. We see providing accurate data, along with helping the industry establish standards, as core to our company’s integrity. Snap has always been careful to conservatively and accurately report non-financial metrics. Now Snap is going a step further and working cooperatively with others to ensure that the industry as a whole has these sorts of rigorous rules and controls.
“ There is no playbook for data governance at Snap’s breadth and scale. We’ve drawn from experts in big data, financial auditing, precision manufacturing, forensic data science, and other fields to build a multi-disciplinary team solely focused on continually raising the bar for data quality. We’ve been excited to translate this work into improvements for our industry as a whole as we share best practices and principles with other leading tech companies.“
-Lucas Pierce, Director of Data

Enterprise Risk

At Snap, Enterprise Risk is defined as any significant event or circumstance which could impact the achievement of our business objectives, including strategic, operational, reporting (including financial), and compliance risks. The purpose of an Enterprise Risk Management (ERM) program is to provide a structure that links enterprise-level risks with company strategic objectives. ERM helps achieve this vision by providing a framework to anticipate, identify, prioritize, and manage material risks to business objectives.