Snoop Dogg Parts Ways with FaZe Clan’s Board
American rapper and entrepreneur Snoop Dogg (Calvin Broadus Jr.) has resigned from his position on FaZe Clan’s Board of Directors, according to a recent SEC filing from the North American esports organization.
Effective immediately, Snoop will no longer be affiliated with FaZe Clan in any capacity.
Snoop Dogg initially joined FaZe Clan as both a content creator and board member in March 2022, just as the company prepared to go public. The partnership appeared mutually beneficial, with Snoop Dogg acknowledging his son, Cordell Broadus, as the driving force behind the collaboration and the introduction to FaZe Clan.
However, circumstances have shifted in 2023. FaZe Clan’s stock has fallen dramatically since its initial public offering in summer 2022, and the company disclosed layoffs early in the year. Additionally, FaZe Clan reported a considerable overall loss in its 2022 financial statement.
Regarding Snoop’s exit, FaZe Clan stated, “On March 29th, 2023, Calvin ‘Snoop Dogg’ Broadus, Jr. informed FaZe Holdings Inc. of his resignation from the Board of Directors of the company, effective immediately. Mr. Broadus’s departure was not due to any disagreement with the Company or any of its subsidiaries.”
During his tenure with FaZe, Snoop Dogg actively participated in content creation and various outreach programs. Notably, before officially joining the organization, he sported a FaZe Clan logo necklace during his Super Bowl Half Time Show performance.
FaZe Clan faces turbulent times, as NASDAQ has threatened to delist its stock if the value does not remain above $1 for at least ten consecutive days. In late March, FaZe was given 180 days to comply, and its stock price now hovers around $0.50.
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