Wednesday, June 29, 2022

Twitter CEO pushes top executives out, freezes hires

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Shreya Christina
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Twitter is shaking up its top leadership. The first step came as a leader in consumer products Kayvon Beykpour announced on Twitter that current CEO Parag Agrawal “asked me to leave after letting me know he wants to steer the team in a different direction.” The New York Times reports that Agrawal announced in an email to employees that Bruce Falck, the general manager of sales and head of product for the business side, is leaving. In the email, he said the company is halting most hirings and cutting spending, but is not planning any layoffs at this time.

Now, Jay Sullivan, with whom we spoke in March about Twitter’s plans to add 100 million new users, will take over as lead product and interim head of sales.

Bloomberg contained the text of the email, citing failure to reach audiences and revenue goals as reasons for the changes. Agrawal wrote: “At the start of the pandemic in 2020, the decision was made to invest aggressively to achieve major growth in audience and revenue, and as a company we have not reached any interim milestones that enable confidence in these goals. “

As a product leader and, most recently, consumer GM, Beykpour has led the development of many of its biggest features and design changes in recent years. It’s a surprising change: Agrawal just reorganized its executive team a few months ago with the departure of Twitter’s design and engineering leaders, leaving Beykpour at the top of consumer products.

Beykpour has been with Twitter since 2015 after it acquired Periscope, the live streaming company he co-founded. As Twitter folded Periscope’s live streaming features into its main app, Beykpour transitioned to the larger company, becoming the head of consumer product in 2018, overseeing an unusually prolific period of feature launches in the years that followed. Periscope was finally shut down last year.

The edge has reached out to Twitter for comment.

To develop…

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