According to an internal memo shared with employees on Thursday, two of Twitter’s leaders will be leaving as part of a top management reorganization as the company grapples with an acquisition from Elon Muskthe richest man in the world.
Kayvon Beykpour, general manager of Twitter, will leave and be replaced by Jay Sullivan, according to the note, obtained by the New York Times. Mr. Sullivan is currently the interim general manager of consumer product. Bruce Falck, Twitter’s chief revenue officer, will also leave the company.
“It is vital to have the right leaders at the right time,” Twitter chief executive Parag Agrawal said in a note to staff. “Sullivan’s product vision, ability to inspire, move quickly and drive change is what Twitter needs now and in the future.”
The memo said Twitter was also suspending most new hires and withdrawing discretionary expenses, although the company is not currently planning layoffs. Part of this comes from the fact that the company is not meeting its targets in terms of audience and revenue growth, wrote Mr. Agrawal.
Twitter has been in turmoil since Mr. Musk struck a deal last month purchase the social media service for $ 44 billion. The billionaire, who also runs electric car maker Tesla and rocket company SpaceX, said he will take Twitter as a private individual and wants to improve the product. Hey there criticized some of Twitter’s top executives publicly, mostly because of the way they moderated the talk on the service.
Mr. Musk, who is still preparing some funding for the purchase, is expected to finalize the Twitter deal in the coming months. In a step to investorssaid it plans to five-fold Twitter’s revenue by 2028 and grow its users to 931 million by that date, up from 217 million at the end of last year.