Twitter co-founder returns to guide culture
SAN FRANCISCO — Twitter co-founder Biz Stone says he’s returning to the tech firm to guide the company’s culture, a move that could help bolster morale among employees.
In a blog post published Tuesday on Medium, Stone said he’s not replacing any employee at Twitter, but he’ll play a role in helping the company move forward.
“It’s important that everyone understands the whole story of Twitter and each of our roles in that story. I’ll shape the experience internally so it’s also felt outside the company,” he wrote.
Stone’s return to Twitter comes as the tech firm is struggling to attract ad dollars. In April, the social media company reported its first revenue decline since it went public in 2013.
But Twitter also reported first-quarter earnings and revenue that beat Wall Street’s expectations. The company has faced of string of executive departures since Twitter co-founder Jack Dorsey returned in 2015 to lead the tech firm as its CEO.
“It sounds like something that could be positive from a morale perspective or a vantage point of culture,” said Brian Wieser, an analyst with Pivotal Research Group. “It’s nothing more tangible than that. It’s not like it says anything about the business changing trajectory.”
Investors, though, were pleased with the news. The company’s stock jumped about 1.4 per cent higher to end the trading session Tuesday at $19.49 per share.
Stone worked at Twitter for about six years before leaving in 2011.