Stock analysts downgrade stock to “hold” status after last weekend’s departure announcements.
There’s at least one thing you can say about the recent departure of several top Twitter execs. They are all keeping it classy.
CEO Jack Dorsey seemed polite and gracious in his public post on the news, while individual tweets from the departing execs were all unfailingly positive and optimistic.
No doubt about it, though, the company is taking a big hit as Dorsey overhauls the top leadership.
“Dorsey confirmed the departures of four top executives in a tweet late Sunday night: Alex Roetter, Twitter’s head of engineering; Kevin Weil, head of product; Katie Jacobs Stanton, vice president of global media; and Brian “Skip” Schipper, vice president of human resources,” write Jessica Guynn and Mike Snider in USA Today.
Meanwhile, the stock continues its less-than-stellar performance, with Stifel Researching advising investors to “hold” after shares dropped 5% on Monday. It’s further evidence of the struggles the company has faced since going public in 2013.
“The management shake-up follows years of instability at the company,” the USA Today piece continues. “Twitter’s advertising business, led by chief operating officer Adam Bain, has performed well. But user growth has stalled as rivals such as Facebook, Facebook-owned services Instagram and WhatsApp and Snapchat all race ahead.”
The social world will be watching as new faces are brought onto the team. In the meantime, “Twitter plans to announce two new board members, including a high-profile media personality, and a new chief marketing officer, according to two people familiar with the matter but not authorized to discuss it publicly,” the article notes.
We’ll keep an eye on it.