Twitter Inc (NYSE:TWTR) Losing Top Executives To Competitors
Twitter Inc (NYSE:TWTR) has been hit by top executive outflow where heads of products, media and engineering and human resources are leaving. It turns out some of these executives are going to work with Twitter’s rivals. One particular case is that of Kevin Weil, Twitter’s outgoing head of products, who has secured the same position at Facebook Inc (NASDAQ:FB)’s Instagram.
The next moves by the other three outgoing Twitter executives, Skip Shipper (HR), Alex Roetter (engineering) and Katie Jacobs Stanton (media) remain unknown. However, with Weil’s move to Facebook, no one knows whether the same company or Twitter’s other competitors poached them or will reach out to them when they formally leave.
Mass executive exodus and reports that some of them are being employed by a competitor seem to complicate matters for Twitter Inc (NYSE:TWTR)’s turnaround. The company is not only losing top officials who have been captains of its turnaround efforts in various capacities, but also long-serving executives who have seen the company rise from no revenue to a revenue run rate of nearly $2 billion presently. Such a loss must be devastating for a company already struggling with a bevy of other problems, including stalling subscriber growth.
Although Twitter’s CEO, Jack Dorsey, seemed to thank the outgoing executives for their contribution to the company, some for as long as six years, dealing with the aftermath of the exits might long and complicated.
More executive exits
Perhaps further complications for Dorsey come from the fact that more executives are said to be preparing to ditch Twitter Inc (NYSE:TWTR) soon or later. Twitter’s head of business development, Jana Messerschmidt, and the head of video streaming service Vine, Jason Toff, are other top officials believed to be preparing their exit.
The exodus of the top official follows layoffs that saw Dorsey trim a few hundred jobs with the aim of creating a more pointed product team that can lead the Twitter Inc (NYSE:TWTR)’s turnaround. For the most part, Twitter’s problems have been linked to poor performance on the products side and that is one segment that Dorsey has been passionate about reordering to make things better. It is unclear how the exit of Weil would set product efforts back.
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