Several of Twitter’s top executives are leaving in a major shakeup at the social media giant.
Recode reported on Sunday that Twitter’s head of engineering, head of media, and head of product are on their way out, with an official announcement reportedly coming from the company on Monday.
Recode also noted that the head of Twitter-owned Vine, Jason Toff, is leaving, adding to a number of changes it described as “Twittermageddon.”
The New York Times reported that Twitter will soon announce two new board members, including one “high-profile media personality,” along with a new chief marketing officer. Here are a few tweets from Twitter investor Chris Sacca:
https://twitter.com/sacca/status/691376723695407104
https://twitter.com/sacca/status/691381240390381568
https://twitter.com/sacca/status/691381693748482048
The big changes come as Twitter saw its stock dip below $16 per share last week, an all-time low for the 10-year-old company. Twitter’s stock, which opened at $26 per share when the company IPO’d in November 2013, has dropped more than 50 percent in the last year as user growth slows.
In response to the slowing growth and decreasing stock price, Twitter has gone through some big changes over the past several months, including co-founder Jack Dorsey taking over as CEO, former Google veteran Omid Kordestan coming in as executive chairman, company-wide layoffs, and new products like Twitter Moments.
Update, 9 p.m. PT: Dorsey tweeted out more details about the executive departures, writing that the company’s media head, product head, and engineering head are all leaving, along with HR head Skip Schipper.
https://twitter.com/jack/status/691485783128051712
Toff, head of Vine, also tweeted that he was indeed leaving Twitter and will be joining Google.
https://twitter.com/jasontoff/status/691456739154247684