Twitter Inc (NYSE:TWTR) decided to split the duties of its former chief operating officer Ali Rowghani between two executives. Rowghani vacated his position at a critical time when the popular microblogging company is trying to boost its slowing user growth.
Rowghani is still connected to Twitter as a strategic adviser to CEO Dick Costolo, according to the company in a previous statement. The reason for his resignation was unclear, but some speculated that it was related to the company’s decision of strip him of his role in product development following its failure to grow.
Dan Loeb’s Third Point Returns 1.9% In Jan Amid Market Turmoil
Activist hedge fund Third Point LLC recorded a profit of 1.9% in January, according to a copy of the firm's latest performance tear sheet, which ValueWalk has been able to review. These figures seem to suggest that the hedge fund managed to make the most of January's market volatility, as other hedge funds struggled. The Read More
Others suggested that it has something to do with his sale of its 300,000 shares of Twitter Inc (NYSE:TWTR) for $9.9 million right after the expiration of the lockup period even as other senior executives of the company and major investors vowed to keep their shares.
Bain, Stricker assume Rowghani’s duties
According to Re/code, Twitter Inc (NYSE:TWTR) divided Rowghani’s duties between two executives, Adam Bain and Gabriel Stricker.
Bain is the person behind the powerful advertising strategy of the microblogging company. Twitter Inc (NYSE:TWTR) gave him the responsibility of overseeing business development, which includes partnerships with external data and analytics companies.
Stricker currently serves as vice president of marketing and communications, and will now supervise the different media partnerships of the company including news, sports and TV.
The media team was previously led by Chloe Sladden, a veteran executive of Twitter Inc (NYSE:TWTR) worked closely with the communications group in pushing forward the company’s latest integration with TV shows of live events such as the World Cup. The company’s social television strategy is considered one of its more successful initiatives, but Sladden also resigned when her boss Rowghani left his position.
Twitter’s lackluster user growth
Twitter Inc (NYSE:TWTR) has seen lackluster user growth for two consecutive quarters, and this has raised concerns, especially when the firm stated that its 255 million monthly users seemed to be using its services less frequently than last year.
The microblogging company is trying to rapidly expand its reach and scale through MoPub, its mobile advertising exchange. In a previous statement, Costolo said Twitter Inc (NYSE:TWTR) already reached more than 1 billion iOS and Android users each month with the integration of MoPub, which makes the company “one of the largest in-app mobile ad exchanges in the world and the only one at scale to offer native in-app advertising.”