Top Twitter executives leaving social media company

CEO Jack Dorsey posted a statement on Twitter to explain the departures

The Twitter logo appears on a phone post on the floor of the New York Stock Exchange, Tuesday, Oct. 13, 2015. Twitter is laying off up to 336 employees, signaling CEO Jack Dorsey's resolve to slash costs while the company struggles to make money. (AP Photo/Richard Drew)

The Twitter logo appears on a phone post on the floor of the New York Stock Exchange, Tuesday, Oct. 13, 2015. (AP Photo/Richard Drew)

NEW YORK — Twitter says that four executives are leaving the company.

Its stock fell almost 4 per cent in morning trading Monday.

CEO Jack Dorsey posted a statement to the microblogging service saying that Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil are exiting the company. Dorsey said he wanted to address employees later this week, but issued a statement due to ‘inaccurate press rumours’ about the departures.

Roetter served as senior vice-president of engineering, Schipper was vice-president of human resources, Stanton was vice-president of social media and Weil was senior vice-president of product.

Dorsey said that Chief Operating Officer Adam Bain would be taking on some additional responsibilities on an interim basis. Chief Technology Officer Adam Messinger will also be assuming some responsibilities.

After a long streak of robust growth that turned it into one of the Internet’s hottest companies, Twitter’s growth has slowed dramatically during the past year-and-half to leave the San Francisco-based company scrambling to catch up with social networking leader Facebook and its 1.5 billion users.

Twitter Inc.’s malaise resulted in the departure of Dick Costolo as the company’s CEO last July and ushered in the return of Dorsey, who had been ousted as the company’s leader in 2008.

Dorsey helped invent Twitter in 2006 and imposed a 140-character limit on messages so the service would be easy to use on cellphones that had 160-character limits on texts at that time. Those texting limits on phones faded away several years ago as the advent of smartphones enabled people to use other Internet messaging services. Twitter may be looking to expand beyond its 140 character tweets in a bid to make its service more appealing to wider audience.

Shares of Twitter Inc. dropped 73 cents, or 3.9 per cent, to $17.11 in morning trading. Its shares have fallen more than 56 per cent over the past year.

Looking for more?

Get the Best of Maclean's sent straight to your inbox. Sign up for news, commentary and analysis.