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, according to a new filing with the Securities and Exchange Commission.
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To make certain, Fenton was anticipated to depart the corporate’s board as soon as his time period expires, in accordance with reports going back to when Twitter was searching for a permanent CEO. Twitter, on the time, was going by way of numerous turmoil and massive adjustments on the prime had been to be anticipated as the corporate lastly settled on co-founder Jack Dorsey as its new CEO.
“Peter Fenton, whose time period expires on the upcoming annual assembly of stockholders, is not going to stand for re-election on the mutual settlement of the Board and Mr. Fenton,” the corporate mentioned within the submitting. “The Firm 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 had been looking for main adjustments on the prime, 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 company in November last year.
We reached out to Twitter for extra data, and can replace the publish after we hear again.