Twitter Inc stock falls almost 5% after exit of four executives – FINANCIAL NEWS-ecozik.com
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Twitter Inc stock falls almost 5% after exit of four executives

Twitter Inc.'s malaise resulted in the departure of Dick Costolo as the company's CEO last July and ushered in the return of Jack Dorsey, who had been ousted as the company's leader in 2008.

NEW YORK – Twitter says that four executives are leaving the organization.

Its stock fell a lot more than 4 percent in premarket trading.

CEO Jack Dorsey posted a statement towards the microblogging service stating that Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil are exiting the organization. Dorsey said he wanted to address employees in a few days, but issued a statement due to ‘inaccurate press rumours’ concerning the departures.

Roetter served as senior vice-president of engineering, Schipper was vice-president of human resources, Stanton was vice-president of social media and Weil was senior vice-president of product.

Dorsey said that Chief Operating Officer Adam Bain would be taking on some additional responsibilities with an interim basis. Chief Technology Officer Adam Messinger may also be assuming some responsibilities.

After an extended streak of robust growth that turned it into one of the Internet’s hottest companies, Twitter’s growth has slowed dramatically in the past year-and-half to leave the San Francisco-based company scrambling to trap up with social media leader Facebook and it is 1.5 billion users.

Twitter Inc.’s malaise resulted in the departure of Dick Costolo as the company’s CEO last July and ushered in the return of Dorsey, who was simply ousted as the company’s leader in 2008.

Dorsey helped invent Twitter in 2006 and imposed a 140-character limit on messages therefore the service could be simple to use on cellphones that had 160-character limits on texts at that time. Those texting limits on phones faded away several years ago because the creation of smartphones enabled individuals to use other Internet messaging services. Twitter might be looking to expand beyond its 140 character tweets inside a bid to create its service more appealing to wider audience.

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