Corporate Shake-Up: Do Recent Twitter Departures Suggest a Leaky Ship?

  • Twitter has announced that venture capitalists Bijan Sabet and Fred Wilson, two of the company’s earliest investors, will be leaving Twitter’s board of directors.
  • Additionally, Chief Scientist Abdur Chowdhury confirmed his departure, ironically enough, through his own Twitter account.
  • “So Long and Thanks for All the Fish. Twitter was an amazing experience & even greater set of people,” tweeted Chowdhury. (The first sentence is a reference to “The Hitchhiker’s Guide to the Galaxy,” spoken by hyper-intelligent dolphins on their flight from the end of the world, reports VatorNews.)
  • The departures mark the latest in a series of related moves in what Vator refers to as a “mass exodus” that “reveals a leaky ship.”
  • Two of the company’s co-founders, Biz Stone and Evan Williams recently resigned from day-to-day operations (Williams remains on the board) and CTO Greg Pass left in May. Also, four product managers have reportedly been dismissed.
  • Other reports suggest the departure of the two directors may be less about a “leaky ship” and more about financial restructuring. “The person familiar with the matter said their departures were related to the reduction of their firms’ stakes in Twitter as part of a financing round in August,” reports The Wall Street Journal. Twitter recently announced it had raised a significant round of financing, putting the company’s worth at $8 billion.