CEO announces major shakeup at Twitter

San Francisco, January 25

Twitter is overhauling its top management said CEO Jack Dorsey, who announced the shakeup today as the social network struggles to boost its profitability and prospects for growth.

The revamp originally was reported by the Wall Street Journal and tech news website Re/code, before Dorsey confirmed the departure of several senior executives in a tweet sent out early today.

Leaving the company are Alex Roetter, head of engineering; Kevin Weil, product chief; Katie Stanton, the head of media; and Skip Schipper, Twitter’s vice president of human resources.

“I’m forever grateful to @aroetter, @katies, @skipschipper & @kevinweil for everything they’ve given to Twitter. They are absolutely amazing!” Dorsey wrote at his @jack Twitter account, adding that he was ‘sad’ they are leaving.

Dorsey, in a longer statement, addressed what he called ‘inaccurate press rumours’ about the overhaul, saying the departing executives ‘have chosen to leave the company’.

“All four will be taking some well-deserved time off. I’m personally grateful to each of them for everything they’ve contributed to Twitter and our purpose in the world,” Dorsey wrote.

He added that Twitter’s Chief Operating Officer Adam Bain ‘will be taking on additional responsibilities’ as part of the shakeup, as will Chief Technology Officer Adam Messinger.

The Journal reported that Twitter planned to take on two new board members as early as this coming week, at least one of whom it said was a high-profile executive in the media industry.

The newspaper reported that as a condition of returning as chief executive last year, Dorsey had told Twitter that all board members must eventually be replaced. The panel includes fellow co-founder Evan Williams, one of the largest individual owners of company stock, according to the Journal.

Twitter declined to respond to an AFP request for comment.

Dorsey currently is managing two firms, Twitter and mobile payments start-up Square — both multi-billion dollar companies struggling to achieve profitability.

He is credited with coming up with the idea for Twitter when eventual co-founder Evan Williams gave workers at blogging start-up Odeo two weeks to work on fun new projects as a way to break up the daily routine.

Dorsey ran Twitter from 2007 to 2008 but was pushed out of the CEO chair. He was reportedly a better engineer than a boss.