Snap’s chief business officer, Jeremy Gorman, to show ads on Netflix

Netflix has found a CEO to lead its plan For an ad-supported layer: Snap’s chief business officer and chief advertising executive, Jeremy Gorman.

Gorman on Tuesday told her Snap colleagues that she was leaving to join Netflix with Peter Naylor, Snap’s vice president of ad sales in the Americas, according to two people familiar with the matter. Snap spokesperson Ross Kaditz-Beck confirmed the departure.

Gorman and Naylor Snap are leaving amid the ad team restructuring and layoffs that have hit the social media company this week. Snap plans to cut nearly 20 percent of its workforce starting Wednesday, the edge I mentioned earlier.

Netflix has It was his layoff tours This year, cutting hundreds of employees and curtailing programming after that Reporting its first joint loss in a decade. The company is now preparing to launch a cheaper, ad-supported category that could cost between $7-9 per month excluding add-ons, such as Ability to download videos.

Kumiko Hidaka, a Netflix spokeswoman, confirmed that Gorman will be the company’s president for global advertising and that she will report to COO Greg Peters. Naylor will lead the Netflix ad sales organization and report to Gorman. the age first mentioned on the staff.

“Jeremy’s deep experience in running the ad business and Peter’s background in leading ad sales teams together will be essential as we expand membership options for consumers with a new ad-supported offering,” Peters said in a statement.

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