Consumer goods giant Procter & Gamble is set to lose Craig Stimmel, its head of digital media and global partnerships to Snap.
Stimmel, a veteran of over eight years at the business, is poised to enter the social sphere as Snap’s new head of brand partnerships next week according to Business Insider.
Stimmel is credited with overhauling P&G’s digital media business across North America as well as being central to managing P&G’s digital business with giants such as Facebook, Google and Snap. He also played a key role in implementing chief brand officer Marc Pritchard’s vision to better integrate creative and media.
During Stimmel’s tenure, P&G brought much of its media buying and first-party data gathering in-house; a decision which has led to the firm acquiring over 1 billion consumer IDs and slashing media waste by 20% amid a target to increase reach 50%. This process has saved an estimated $1bn in agency fees and production costs.
Neither P&G nor Snap have commented on the news.
The appointment is a coup for Snap, which has made several changes at the top over the past year.
Three months ago, the platform hired its first chief marketing officer in McDonald's marketer Kenny Mitchell. Mitchell's arrival followed on from Nick Bell, Snap's vice-president of content exiting the business last year.
Just over 12 months ago, Snap poached Amazon's global head of ad sales Jeremi Gorman to take on the role of chief business officer. Her appointment dovetailed with the hire of ex-Huffington post chief executive Jared Grusd who was brought in to fill the chief strategy officer position left vacant by Imran Khan.