Twitter Says Goodbye to Five Executives
January 27, 2016 Leave a comment
Twitter has some serious turn-over coming up as five of their top executives are leaving the company. Product head Kevin Weil, media head Katie Jacobs Stanton, senior vice president of engineering Alex Roetter, vice president of human resources Brian Schipper, and Vine head Jason Toff are heading out, and Twitter will be covering their positions while they search for replacements. Rumor has is that vice president of business development Jana Messerschmidt might also be leaving in the near future.
Apparently, they will be appointing two new board members, one of whom is a “big media name,” while also bringing in a new hire who is a well-known executive and CMO. They don’t have replacements lined up for everybody though. Weil and Roetter, who have not been fired, apparently left as part of a decision by the company, while Toff is heading to Google to work on virtual reality.
All of this comes at a time when Twitter is struggling to keep their share prices up. After naming founder Jack Dorsey as CEO, those shares dropped to their lowest point. They then rebounded after a rumor dropped about a tie-in with News Corp that turns out to have been false. As the company fights to increase user growth though, their stock has been under pressure. Twitter growth seems to have hit a significant slowdown, as by this time, the people not using it seem to largely be set in that decision, leaving them waiting for ne users to age into the service, or for new markets to open up. The Internet being what it is though, unavailable markets tend to be in nations without significant access, or which are denied that access by their government.
The dropping value of Twitter stocks have begun to fuel speculation that they could become an acquisition target.