Several of Twitter’s top executives are leaving in a major shakeup at the social media giant.
Recode reported on Sunday that Twitter’s head of engineering, head of media, and head of product are on their way out, with an official announcement reportedly coming from the company on Monday.
Recode also noted that the head of Twitter-owned Vine, Jason Toff, is leaving, adding to a number of changes it described as “Twittermageddon.”
The New York Times reported that Twitter will soon announce two new board members, including one “high-profile media personality,” along with a new chief marketing officer. Here are a few tweets from Twitter investor Chris Sacca:
I get asked, so to be clear: I'm not joining the Twitter board. Looking forward to who does. At this point, change can only be good.
— Chris Sacca (@sacca) January 24, 2016
I would be shocked if the two new Twitter board members being discussed don't include at least one woman and a person of color.
— Chris Sacca (@sacca) January 24, 2016
The Twitter board also needs a shareholder who actually paid for their stock. That would do wonders to advance investor relations.
— Chris Sacca (@sacca) January 24, 2016
The big changes come as Twitter saw its stock dip below $16 per share last week, an all-time low for the 10-year-old company. Twitter’s stock, which opened at $26 per share when the company IPO’d in November 2013, has dropped more than 50 percent in the last year as user growth slows.
In response to the slowing growth and decreasing stock price, Twitter has gone through some big changes over the past several months, including co-founder Jack Dorsey taking over as CEO, former Google veteran Omid Kordestan coming in as executive chairman, company-wide layoffs, and new products like Twitter Moments.
Update, 9 p.m. PT: Dorsey tweeted out more details about the executive departures, writing that the company’s media head, product head, and engineering head are all leaving, along with HR head Skip Schipper.
Was really hoping to talk to Twitter employees about this later this week, but want to set the record straight now: pic.twitter.com/PcpRyTzOlW
— jack (@jack) January 25, 2016
Toff, head of Vine, also tweeted that he was indeed leaving Twitter and will be joining Google.
Personal update! I'm joining Google to work on VR. So much exciting potential there.
— Jason Toff (@jasontoff) January 25, 2016