Snap’s chief strategy officer is the latest executive to leave the group.
Imran Khan said he was leaving the company to “pursue other opportunities”.
“After nearly four years at Snap, I have decided to step down,” Khan said in an email to staff.
“This has been a very difficult decision for me to make. There is never a perfect time to say goodbye, but I know that the time is now. We have a stellar leadership team in place to guide Snap through the next phase of growth and on to the next chapter.”
Shares fell almost two percent on Monday and have plunged 40 percent from their public share offering last year.
Snap has struggled to keep a large following since the group’s redesign of the app.
Earlier this year, Kylie Jenner said on Twitter she was not a fan of the photo messaging app since the re-design.
She tweeted: ‘“Sooo does anyone else not open Snapchat anymore?”
The tweet led to over $1 billion being wiped from the group’s value in February.
Over a million users signed a petition for Snapchat to reverse the unpopular new design.
Snapchat’s financials for the second quarter were revealed last month and showed the first drop in active users in the company’s history. The group said it lost three million users in the past three months.
“I think it’s really dangerous,” commented Rob Kniaz, the co-founder of the technology venture capital firm Hoxton Ventures.
“When you look at the numbers, if you’ve lost three million of your most active users by definition, it tells you something is materially wrong with the product and maybe the company.”
Snap has not made a profit since its flotation on the stock exchange.
Shares in Snap (NYSE: SNAP) closed down 1.91 percent at 9,74.