- In the wee hours of Sunday night, Twitter's (NYSE:TWTR) Chief Executive Jack Dorsey made it official: Several top-level executives are leaving.
- Engineering chief Alex Roetter, product head Kevin Weil, human-resources vice president Skip Schipper and media head Katie Stanton are all jumping ship, while two new board members will be appointed this week to help the company through its turnaround.
- Addressing what he called inaccurate press rumors, Dorsey praised the four executives and said he was sad to announce their departures.
- With shares of Twitter down around 55% in the past year (below the stock's IPO price), investors will be waiting to see if the major management shake-up will restore confidence.
- TWTR -5.9% premarket
- Previously: Coming soon at Twitter: massive executive upheaval (Jan. 24 2016)