Twitter CTO Messinger to exit, further depleting executive ranks

Twitter Inc.’s chief technology officer is leaving, another blow to the social-media company’s top ranks just weeks after its chief operating officer resigned. Adam Messinger, who has been CTO since 2013, also took over leadership of the company’s product team earlier this year after repeated turnover in that job. The San Francisco-based company named a new head of product at the beginning of this month. Messinger’s division will now report directly to Chief Executive Officer Jack Dorsey, Twitter said Tuesday in a statement. The executive departures add turmoil at a company that is already struggling with slowing revenue growth. Twitter recently cut 9 per cent of its workforce in an effort to get closer to profitability, after exploring a potential sale of the company but getting no bids. With Messinger’s responsibilities shifting to Dorsey, the co-founder’s workload will increase further even as he maintains his other CEO job at Square Inc. Messinger said in a Twitter posting that his departure was his own decision. Twitter last month lost COO Adam Bain, who built up the company’s advertising business. Neither executive has announced a next move. Twitter’s stock declined 1.8 per cent to $17.92 at the close in New York before the announcement, and was little changed following the news. The shares have declined 23 per cent this year, leaving the company with a market value of $12.8 billion. (Sarah Frier/Bloomberg)

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