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Twitter loses top executives

Twitter loses top executives

Twitter

Twitter Inc. has announced that the media company is losing four members of its executives and adding two new members to its board this week.

Company’s Chief Executive Officer, Jack Dorsey announced this in San Francisco, USA. Dorsey praised the four executives and said he was sad to announce their departure.

This is the biggest leadership change since Dorsey returned as chief executive as he struggles to revive the company’s growth. The technology company has lost half of the value of its stock in the past 12 months and is now trading below its IPO price.

The company has been looking forward to add directors since appointing former Google Inc. executive Omid Kordestani as executive chairman in October.

Dorsey in October last year had spoken about “hiring and investing in talent” and the need for “bold rethinking.”

The company is expected to announce new board members, including the recruitment of a chief marketing officer.

Although Twitter’s spokesman, Jim Prosser has declined to comment on the matter, media reports have announced the management shuffles. The company is scheduled to report quarterly earnings on February 10.

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