Two more top executives quit Twitter

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IANS | 28 May, 2016
In another blow to the micro-blogging website Twitter, two of its top executives are set to leave the company, media report said on Friday.

It is unclear exactly when the executives -- Jana Messerschmidt who is head of business development, and Nathan Hubbard, head of media and commerce -- will leave but as a result Twitter has tapped another executive to take over both roles at the moment, Re/Code reported on Friday.

Ali Jafari, the vice president running Twitter's Amplify video advertising business, will reportedly take over media, business development and Amplify as one unified partnerships organisation, the report added.

The move comes at a time when the company is facing stalled user growth and growing competition. A sequential decline in its monthly active users (MAUs) base triggered a sharp fall for Twitter shares as the company announced its fourth quarter results recently.

The micro-blogging site reported 305 million monthly active users for the fourth quarter, compared to 307 million in the third quarter that excluded SMS-only followers.

The almost-flat user growth led to its shares falling by as much as 13 percent in extended trading hitting

another new low of around $13.75 before flattening out to three percent in extended trading.

In January, the company's head of engineering Alex Roetter and product chief Kevin Weil put in their papers, along with Katie Stanton, the company's high-profile head of media.

With this, Twitter went under a major overhaul under Jack Dorsey, the new CEO of the micro-blogging site. Dorsey brought in two board members in a bid to revive the company and earn the trust of investors.

Stanton's team was reorganised under chief operating officer Adam Bain.

Dorsey made several moves, including cutting jobs and naming Google's former chief business officer, Omid Kordestani, as Twitter's executive chairman.

Several high-profile Twitter executives and managers have jumped the ship in recent months. Twitter editorial director Karen Wickre and Shariq Rizvi, who confounded the direct response ads team at Twitter, both announced their departures.

Also CMO Leslie Berland, head of communications Natalie Kerris and a handful of new board members were added to the team.

As part of the new change, Gnip CEO Chris Moody, who was reporting to Messerschmidt, will now report directly to Twitter COO Adam Bain along with Jafari.

Recently, media reports surfaced saying that Twitter was doling out cash

to employees to stop them from quitting. The company reportedly offered its employees cash bonuses of $50,000 to $200,000 so that they stay with the company for at least a year.

The social media firm has also been offering additional restricted stock to employees companywide, extending from the upper ranks to junior level employees.