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Investing.com -- Reddit Inc (NYSE:RDDT) stock fell 1.5% on news that Chief Product Officer Pali Bhat will be leaving the company in the coming months, as reported by The Verge, citing a Reddit spokesperson.
Bhat, who joined the social media platform in 2021, has been credited with developing "a culture of execution" during his tenure according to CEO Steve Huffman in an internal message.
The company is actively searching for a new product leader to replace Bhat. In the interim, Chief Operating Officer Jennifer Wong will oversee user growth initiatives, while Chief Technology Officer Chris Slowe will manage engineering responsibilities. Huffman will continue to drive the company’s long-term product vision, according to the spokesperson.
Despite the leadership change, Reddit maintains its strategic focus on global expansion, advertising product development, search improvements, and core product enhancements.
Bhat’s departure represents a significant change in Reddit’s executive team. During his time at the company, he reportedly built a talented team, "raised the bar," and helped navigate what Huffman described as "some of the most challenging and important moments" in Reddit’s history.
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