Peter Fenton is leaving Twitter’s board of administrators
Benchmark accomplice Peter Fenton, who had been on Twitter’s board since 2009, is not going to search re-election after his time period expires in 2016, in accordance with a brand new submitting with the Securities and Alternate Fee.
To make certain, Fenton was anticipated to depart the corporate’s board as soon as his time period expires, in accordance with reviews going again to when Twitter was trying to find a everlasting CEO. Twitter, on the time, was going by means of plenty of turmoil and massive modifications on the high have been to be anticipated as the corporate lastly settled on co-founder Jack Dorsey as its new CEO.
“Peter Fenton, whose term expires at the upcoming annual meeting of stockholders, will not stand for re-election at the mutual agreement of the Board and Mr. Fenton,” the corporate mentioned within the submitting. “The Company and the Board are grateful to Mr. Fenton for his years of service.”
Since then, Twitter has added former Fb CTO Bret Taylor to its board and former Googler Omid Kordestani. With Twitter in peril, all eyes have been trying to find main modifications on the high, and with Dorsey got here a number of rounds of layoffs. However since then, Twitter nonetheless has seemingly not righted the ship.
Additionally within the submitting: Former CFO and now COO Anthony Noto obtained compensation of $23.eight million in 2016. Noto took over as COO of the corporate in November final yr.
We reached out to Twitter for added data, and can replace the submit once we hear again.