Top Twit­ter ex­ec­u­tives to leave com­pany: CEO

The Pak Banker - - COMPANIES/BOSS -

Four se­nior Twit­ter ex­ec­u­tives are leav­ing the me­dia com­pany, CEO Jack Dorsey tweeted late Sun­day night, the big­gest lead­er­ship changes since Dorsey re­turned as chief ex­ec­u­tive as he strug­gles to re­vive the com­pany's growth.

Me­dia head Katie Jacobs Stan­ton, prod­uct head Kevin Weil, the head of the en­gi­neer­ing divi­sion, Alex Roet­ter, and HR head Brian "Skip" Schip­per will all leave the com­pany, he said. Ad­dress­ing what he called in­ac­cu­rate press ru­mors, Dorsey praised the four ex­ec­u­tives and said he was sad to an­nounce their de­par­tures. Twit­ter's stock has fallen nearly 50% since Dorsey's re­turn last year and is now trad­ing below its IPO price amid con­cern the com­pany has failed to sig­nif­i­cantly boost its user base de­spite a quicker pace of prod­uct roll­outs un­der Dorsey.

On Sun­day night Ja­son Toff, who heads Twit­ter's video stream­ing ser­vice, Vine, tweeted that he was also leav­ing Twit­ter to join Google to work on vir­tual re­al­ity. Dorsey's tweet did not men­tion him. In an earn­ings con­fer­ence call in Oc­to­ber, Dorsey spoke about "hir­ing and in­vest­ing in tal­ent" and the need for "bold re­think­ing."

Twit­ter may an­nounce other ex­ec­u­tive changes, in­clud­ing the re­cruit­ment of a new chief mar­ket­ing of­fi­cer, on Mon­day, ac­cord­ing to a source fa­mil­iar with the mat­ter. The com­pany will an­nounce two new board mem­bers soon, the per­son added. Dorsey tweeted that chief op­er­at­ing of­fi­cer Adam Bain will take on ad­di­tional re­spon­si­bil­i­ties as a re­sult of the de­par­tures, in­clud­ing rev­enue-re­lated prod­uct teams and the HR team.

Chief tech­ni­cal of­fi­cer Adam Messinger will han­dle the en­gi­neer­ing team, he said. Weil, Stan­ton, Schip­per and Roet­ter are among the high­est-level de­par­tures in re­cent months, but sev­eral ex­ec­u­tives have left Twit­ter since co- founder Dorsey stepped in as in­terim CEO in July. He has since been named Twit­ter CEO.

Dorsey, who is also CEO of fi­nan­cial ser­vices tech­nol­ogy com­pany Square, has yet to lay out a de­tailed plan of what he wants Twit­ter to do dif­fer­ently. Dorsey plans a re­treat with Twit­ter ex­ec­u­tives this week, the source said.

Weil has been at Twit­ter since 2009, al­though he has only served as its prod­uct head for about a year. He has of­ten served as a face of the com­pany, speak­ing at con­fer­ences and hint­ing at new de­vel­op­ments on the site, such as a char­ac­ter count that would ex­ceed the cur­rent 140- char­ac­ter limit. Twit­ter has shuf­fled through three prod­uct heads since 2014, and Dorsey has played an in­creas­ingly large role in prod­uct de­vel­op­ment.

Stan­ton joined the com­pany in 2010 and was tasked with grow­ing its au­di­ence out­side the US. She pre­vi­ously worked at Google Inc and Ya­hoo Inc as well as the White House and State Depart­ment.

Twit­ter, which has just over 300 mil­lion users, had its slow­est user growth in 2015 and was eclipsed by photo-shar­ing app In­sta­gram, owned by Face­book Inc, which sur­passed 400 mil­lion users last year.

Since his re­turn, Dorsey has launched Mo­ments, a prod­uct de­vel­oped by Weil, which show­cases Twit­ter's best tweets and con­tent, laid off 300 work­ers and hired for­mer Google ex­ec­u­tive Omid Kordestani as ex­ec­u­tive chair­man. The news of the ex­ec­u­tive de­par­tures was first re­ported by the tech­nol­ogy news site Re/Code. Re/Code also re­ported on ex­pected board changes, and the New York Times re­ported the com­pany planned to name the two new board mem­bers.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.