Report: Snapchat Parent Snap Adds Ex-Peloton Compliance Head


The former head of compliance at Peloton Interactive left the company in August and has reportedly joined Snapchat parent company Snap.

Bertrand Lanciault III, who goes by Lance Lanciault, became Snap’s chief compliance officer in August, The Wall Street Journal reported Thursday (Sept. 22), citing a Snap spokesperson and an earlier report by Radical Compliance.

Launciault’s LinkedIn profile shows that he joined Snap in August after being with Peloton for one year and seven months.

A Peloton spokesperson said in an email to PYMNTS that Lanciault departed the company in August and that Michael Del Negro became Peloton’s acting head of compliance, risk and ethics that same month.

PYMNTS has reached out to Snap for comment.

Lanciault’s move preceded Peloton’s Sept. 12 announcement that the company’s co-founders — Chairman John Foley and Chief Legal Officer Hisao Kushi — were stepping down from their roles.

Read more: Peloton Co-Founders Foley, Kushi Step Down From Company Roles

“We founded the company because we wanted to make fitness and wellness convenient, fun and effective,” Foley said at the time in a press release. “Because of the work of thousands of people, we’ve done that,” he said, adding that he wanted to, “start a new professional chapter.”

A month earlier, on Aug. 12, Peloton CEO Barry McCarthy wrote in a memo that the company was cutting jobs and prices and requiring employees to return to its offices “to make Peloton more efficient, cost effective, innovative, and to best position ourselves for the future.”

Read more: Peloton Makes ‘Hard Choices,’ Cutting 800 Jobs, Outsourcing Some Operations

“These changes are essential if Peloton is ever going to become cash flow positive,” McCarthy wrote in the memo. “Cash is oxygen. Oxygen is life. We simply must become self-sustaining on a cash flow basis.”