More top Twitter executives to leave company: Reuters

(Reuters) — Struggling social media company Twitter Inc will see three more top officials depart, and it plans to add two new board members, a source familiar with the matter said on Sunday.

Twitter media head Katie Jacobs Stanton, product head Kevin Weil, and the head of the engineering division, Alex Roetter, will all leave the company, the source said on condition of anonymity.

In addition, Jason Toff, who heads Twitter’s video streaming service Vine, as well as business development leader Jana Messerschmidt, may also depart.

The news was first reported by the technology news site Re/Code.

Re/Code also reported on expected board changes, and the New York Times reported the company plans to name the two new board members.

Twitter plans to announce the departures on Monday, along with the recruitment of a new chief marketing officer, according to the source familiar with the matter.

Twitter declined to comment on Sunday.

Weil, Stanton and Roetter are among the highest-level departures in recent months, but several executives have left the company since Twitter co-founder Jack Dorsey stepped in as interim CEO in July. He has since been named Twitter CEO.

Weil has been at Twitter since 2009, though he has only served as its product head for about a year. He has often served as a face of the company, speaking at conferences and hinting at new developments on the site, such as a character count that would exceed the current 140-character limit.

Twitter has shuffled through three product heads since 2014.

Stanton joined the company in 2010 and was tasked with growing its audience outside the United States. She previously worked at Google Inc and Yahoo Inc as well as the White House and State Department.

Twitter’s stock has plummeted nearly 50 percent since Dorsey’s return and is now trading below its IPO price. Analysts said there is concern Twitter has failed to grow its user base even with a quickened pace of product rollouts under Dorsey.

It had its slowest user growth last year – it now boasts just over 300 million users – and was eclipsed by photo-sharing app Instagram, owned by Facebook Inc, which surpassed 400 million users last year.

In an earnings conference call in October, Dorsey spoke about “hiring and investing in talent” and the need for “bold rethinking.”

Since then, Dorsey has launched Moments – a product developed by Weil – which showcases Twitter’s best tweets and content, laid off 300 workers, and hired former Google executive Omid Kordestani as executive chairman.