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Three high-ranking Twitter executives have resigned. The company may be sold to Elon Musk, but it has seen several notable departures as well as a declining stock price.
Ilya Brown, vice president product management, Katrina Lane, vice president Twitter Service, and Max Schmeiser head of data science are all out. “We continue to be focused on providing the very best experience to the people on Twitter,” says a Twitter spokesperson. “We are thankful for all of their hard work and leadership.”
Two firings closely followed their exits. Last week, Twitter CEO Parag Agrawal fired Kayvon Beykpour, the company’s head of consumer product, and Bruce Falck, its head of revenue product. Brown, Lane, as well as Schmeiser will be leaving their jobs on their own. Agrawal, however, announced that he would be imposing a budget freeze on hiring and budget reductions but has ruled out any layoffs.
Twitter remains in flux as the departures of these senior executives have impacted its ability to move forward. Musk on Tuesday said the $ 44 billion deal he negotiated with Twitter’s board can’t move forward until Twitter provides evidence to support its estimate that less than 5% of accounts are spam. The number is a long-existing one, and it seems like a diversionary tactic by Musk to possibly force the board into agreeing to a new price — a lower one after weeks of a tech-stock downturn. Twitter’s board signaled it has no intention (for now) to return to the bargaining table, filing a proxy statement on Tuesday morning and urging shareholders to accept the $ 54.20-a-share deal, saying: “Twitter is committed to completing the transaction on the agreed price and terms as promptly as practicable. “
Twitter stock remains well below $ 54.20 — up somewhat on Tuesday, a 2.3% increase to 38. If investors weren’t perturbed by Musk and the departures and everything else, that number would be much closer to $ 54.20.
