Twitter product development VP leaving

|By:, SA News Editor

Michael Sippey, Twitter's (TWTR +2.7%) VP of Product, is resigning. He'll remain in an advisory role for the time being.

In a blog post, Sippey says he decided "it's time to move on" after talking with CEO Dick Costolo and COO Ali Rowghani in recent weeks. He hints he'd prefer to work in a startup-type environment once again.

Sippey's move could be a sign of things to come: Facebook saw many senior execs depart in the months following its May 2012 IPO. A number of those execs would later turn up at startups.

Shares bucked a tech selloff today with the help of Stifel's coverage launch.

Yesterday: Twitter reportedly partnering with Stripe for credit card payments