Several top Twitter executives left the company on Sunday (Jan. 24) evening Pacific Coast time, part of a broader management shake-up that was first reported by Re/code. They and founder Jack Dorsey used Twitter to let the world know all about it:
Product head Kevin Weil, who has been with the company for seven years, indicated he planned to spend more time with his family.
Media head Katie Jacobs Stanton will, likewise, spend more time with her children, she tweeted and also explained on Medium.
I’m increasingly faced with the reality that I can’t outsource what’s most precious: time. Life moves fast and I want to enjoy the time with my children before it’s too late. There’s a weird stigma about taking a break to spend time with your family — but really, what could be more important?
As will engineering head Alex Roetter.
Vine manager Jason Toff, meanwhile, is headed back to Google, where he’ll work on virtual reality.
Brian “Skip” Schipper, the head of human resources, didn’t make any announcement on Twitter, and had last tweeted several days ago.
The company also plans to appoint new board members and a “high-profile” marketing manager, the New York Times reported, part of co-founder Jack Dorsey’s corporate-wide shakeup since he rejoined the company as CEO last year. The company’s “executive team” is now down to five people plus Dorsey after the departures.
The exodus comes just after Twitter’s share price hit a record low last week:
The company’s massive IPO in 2013 was followed by several money-losing quarters and failed attempts to reach more users. Twitter’s penetration rate in the US is still below 20% of the population, and it isn’t expected to hit that figure for more than a year. Investors are increasingly bearish about its money-making prospects.