Twitter in huge management shakeup | Business| Economy and finance news from a German perspective | DW | 25.01.2016
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Twitter in huge management shakeup

Twitter is in the process of overhauling its top management. The social network's chief executive, Jack Dorsey, confirmed the shakeup amid attempts to boost the company's profitability and growth prospects.

Twitter CEO Jack Dorsey said Monday that four senior managers were leaving the social network company.

He announced the departure of engineering head Alex Roetter, product chief Kevin Weil, head of media Katie Stanton and human resources vice president Skip Schipper.

"I'm forever grateful for everything they've given to Twitter," Jack Dorsey said, adding he was sad they were leaving. The "Wall Street Journal" reported that the company planned to take on two new board members as early as in the course of this week.

Wooing new clients

Twitter's stock has dropped by nearly 50 percent since Dorsey's return last year and is now trading below its IPO price.

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Investors have been cautious as the company has failed to significantly boost its user base despite a quicker pace of product rollouts.

The social network now has about 320 million users, logging the slowest annual user growth in 2015.

It was eclipsed by Facebook-owned photo-sharing app Instagram, which surpassed 400 million users last year.

hg/cjc (AFP, Reuters)

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