Twitter Inc’s Chief Technology Officer, Adam Messinger, tweeted that he will be leaving the company after working at Twitter for five years. Messinger is the latest in a string of high-profile executive departures from Twitter and comes a few weeks after the company’s Chief Operating Officer resigned.
Messinger became the CTO in March 2013. Prior to joining Twitter in 2011, he was vice president of development at Oracle. Messinger’s announcement saw Twitter’s shares (TWTR) come under severe selling pressure from speculators and shor term traders, falling as much as 4.25% to a session low of $17.12.
“We’re taking steps to streamline and flatten the organization by elevating our engineering, product and design functions, with each area now reporting directly to Jack,”Twitter
Twitter issued a statement saying that they believe these updates (e.g. each business area reporting to CEO Jack Dorsey) to their organizational structure will enable increased discipline in their product strategy and faster execution.
Adam Messinger's resignation follows Josh McFarland's who was Twitter's VP of Product. McFarland joined Twitter two years ago via Twitter's acquisition of TellApart, a digital advertising business, where he held the same role. Unlike Messinger, who didn't say whether he is taking a different job, McFarland will join Greylock Partners, a join-venture capital firm, as an investor. With McFarland's departure, reports suggest Ed Ho, Twitter's VP of engineering, will now be responsible for all product and engineering teams.
"Thank you for everything you've done for Twitter Adam! I have learned so much from you, and appreciate everything you stand for."Jack Dorsey, Twitter CEO
Twitter shares have declined 26% year to date, trailing the 11% rise in the S&P 500 and traded 4% lower after Messinger announced his departure.