Twitter loses five key senior executives as shares hit an all-time low – StartupSmart
Five high-level executives have left Twitter, less than four months after Jack Dorsey took over as CEO and implemented a series of changes to the social network.
After news of the departures on Monday, shares in Twitter dropped more than 3% to their lowest ever levels, as the BBC reports.
Dorsey tweeted to confirm that four executives had left the company, not mentioning Vine head Jason Toff, who also tweeted he had left Twitter to work on virtual reality at Google.
“All four will be taking some well-deserved time off,” Dorsey said.
“I’m personally grateful to each of them for everything they’ve contributed to Twitter and our purpose in the world.”
Three of these employees had been with Twitter for more than five years.
It’s further bad news for Twitter, which is currently working to make its product more user-friendly and inviting for first-time users.
“We don’t see how the departure of the heads of three major business divisions can be viewed as a positive in the middle of an attempted business turnaround,” Stifel analysts said.
In some positive news for the company, Twitter announced on Wednesday that it had hired Leslie Berland as its new chief marketing officer, as Re/Code reports.
With the aim of promoting Twitter’s brand, it will be no doubt be a challenge role as shares continue to tumble and the exodus of employees carries on.