Twitter’s exodus: Four top execs leaving
Twitter continues to be in for a bumpy ride.
On top of a plummeting share price and struggles to attract new users, four of the company’s top executives are departing: product chief Kevin Weil, head of engineering Alex Roetter, Katie Jacobs Stanton, VP of global media and Skip Schipper, VP of human resources.
On Sunday night, CEO Jack Dorsey confirmed the departures, saying the four would be “taking some well-deserved time off.” A source familiar with the situation told CNNMoney that Roetter, Stanton and Weil had made the decisions at separate times within the last few weeks.
Another source close to the company cited a number of factors for the departures, including burnout.
“[It’s] exhausting. Any time the market is crushing you, growth is stagnated…it’s a tough place to be in.”
On Monday afternoon, another source familiar with the situation confirmed to CNNMoney that Head of Commerce Nathan Hubbard would become interim media head.
Twitter had already planned to hold a retreat this week to discuss the company’s future.
Weil, who has been at Twitter since 2009, worked his way up from analytics engineer to VP of product. Stanton, who joined the company in 2010, played a major role in helping build out Twitter’s media team and grow an international audience. In a Medium post, she said her only plans for the future were to “rebalance, think fresh and tackle a few new challenges.”
In his statement, which he posted on Twitter, Dorsey said that COO Adam Bain and CTO Adam Messinger would be taking on additional responsibilities for the time being. According to the source, Twitter plans to announce new top-level management hires, including a new CMO and board members.
Also on Sunday night, Jason Toff, the GM of Twitter’s Vine unit, announced that he was leaving the company to join Google’s virtual reality division.
Twitter is no stranger to a revolving door of senior executives. The company has undergone a number of changes since cofounder Jack Dorsey was named permanent CEO in October. Dorsey replaced Dick Costolo, who stepped down in June.
The company faces immense pressure from shareholders. Just this month, shares reached an all-time low — they’ve fallen 23% in January alone.
One of Dorsey’s priorities since taking the reins has been to make Twitter more appealing to a wider audience as it has continuously struggled to add new users.
In October, Twitter launched “Moments,” a feature that lets users follow editor-curated events from start to finish. And most recently, Dorsey also hinted that the company might greatly expand its 140 character limit.
By Laurie Segall