One of the accusations Twitter Inc (NYSE:TWTR) CEO, Jack Dorsey’s, predecessor faced was that he allowed key professionals to leave the company. The exodus is still continuing as four top executive have decided to leave. That included its product chief, Kevin Weil, HRD VP, Skip Schipper, engineering head, Alex Roetter, and media chief, Katie Stanton. That forced the CEO to revamp its top management and hopes the shake-up will be a game changer that will enable him to win back investors confidence.
Additions to the Board
As a first step towards revamping, Twitter Inc (NYSE:TWTR)’s Dorsey would induct two new members to its board this week. One among them is said to be a high-profile media executive. It was reported that the CEO has made this condition a prerequisite for him to take over as CEO. Currently, co-founder, Evan Williams, is also on the board. It remains to be seen whether he would be replaced as well and how the company will fill the gap created by the exits.
The social media firm’s CEO said that technology head, Adam Messinger, would be entrusted with the responsibility of overseeing engineering, app development, user services, design, consumer product, and research in one group. Aside from that, its COO, Adam Bain, would manage the teams of media, HR, and revenue-related product on an interim basis.
Focus To Make It Easier
Twitter Inc (NYSE:TWTR)’s Dorsey has repeatedly said that his focus would be to make the site more user friendly. He was responsible for bringing in Qmid-Kordestani as the Executive Chairman of the firm. Kordestani was a Chief Business Officer in Alphabet Inc (NASDAQ:GOOGL)’s Google. Following the confirmation of CEO position in October, he disclosed the intention to slash the jobs.
Twitter Inc (NYSE:TWTR)’s Dorsey’s task appears to be to keep the top level executives intact as frequent changes has not only shifted the strategy but also paralyzed the company thus dragging down the stock. The exit of four executives may prove to be a blessing in disguise for the CEO as this may create an opportunity for him to bring in a new team that will be better aligned with his vision moving forward.
Shares of Twitter Inc (NYSE:TWTR) have fallen by 37 percent ever since Jack Dorsey took the charge. It will be interesting to watch the stocks performance as the ne w positions are filled. You can bet that Wall St. will be watching very closely as well.
