Twitter Appoints Replacement For Board Members
Two new board members have been reported to join the micro blogging company in efforts to turn things around for the business.
A few members might be joining the microblogging company soon, according to its fourth quarter earnings announcement. Twitter lost a few members in the beginning of this year; hence, the social media platform had to look for potential replacements. Two new names were taken at the earnings call, Peter Chernin and Peter Currie.
Twitter Inc. is taking unpredictable decision in term of hiring this time, mostly to change the game of the business entirely. It is hiring some of the most popular, well-known Hollywood people, such as Shonda Rimes and the music artist, Kendrick Lamar. This is one spectacular effort for the company to raise its popularity and catch the attention of different variety of audience.
The social media network has been facing major problems with its sluggish user growth and its share fell down by 32% from the beginning of this year. The defeat faced by organization’s stocks has made headlines mainly because other competitors in the market were reported to do remarkably well in comparison to Twitter, including Facebook.
Twitter is not showing signs of growth and is fading away with time, which is expected to continue. Jack Dorsey is running two businesses at once, including Square Inc. His job clearly is not an easy one but he changed many methods in efforts to change the game of the social media platform. Apparently, these efforts have not been showing so much success.
The reason to hire well known celebrities can be considered as an effort to grow. Twitter has tried everything; this was one remaining option. With a rival in the market as big as Facebook, the social media platform faces tough competition. There were rumors that the micro blogging giant might be changing its newsfeed style and making it very much like Facebook’s, but these rumors were false according to Jack Dorsey.
This is not the end for Twitter losing its most important board members. Others might follow if the company does not get back on its feet in time, as the future of the business is not promising much progress now. Executives will not wait for the business to get better but will find better options instead.