Twitter went through a major shakeup on Sunday as its heads of engineering, media, product and Vine have exited the company.
A large investors on Twitter confirms that the departure was the result of a long-planned restructuring of Twitter. Four executives – Katie Stanton, head of the media, Kevin Weil, head of product, Alex Roetter, head of engineering and Jason Toff, the head of the Vine – is all allies of former CEO Dick Costolo and “not a person in whom Jack has the highest faith,” the source said.
It is an administrative structure for Twitter, but did little to reassure investors and the public in general that things have changed for the better since the co-founder Jack Dorsey back as director operating in the better since co-founder Jack Dorsey returned to the CEO role in October 2015.
Dorsey has been tremendous pressure to give Twitter a new face and functionality, and has long hinted that he will have the power toÂ revamp the company’s executive ranks.
The exits, first reported by Re/code and followed by the New York Times, are yet to be announced publicly, but there are already additional rumors that the company will name a “high profile media personality” to its board.
Twitter has been besieged by takeover rumors and other worries as it tries to transform itself for mass appeal, so far to no avail. The company’s stock is getting hammered this year, repeatedly reaching new lows. Last week, Twitter CEO Jack Dorsey â€” who is also the CEO of payment startup Square â€” lost his billionaire status as a result.
Rich Greenfield, analyst for BTIG research, pointed out that these are only the most recent departures in a little more than a year. Only five of the executives that ran Twitter in November of 2014 remain.