Two of Twitter’s leaders are leaving as part of a change of top executives, according to an internal memo shared with employees on Thursday. insider shared with employees on Thursday, as the company grapples with a takeover from Elon Musk, the world’s richest man.
Kayvon Beykpour, the general manager of Twitter, is leaving and will be replaced by Jay Sullivan, according to a memo obtained by The New York Times. Mr. Sullivan is currently the interim general manager of consumer products. Bruce Falck, Twitter’s general manager of revenue, is also leaving the company.
“It’s important to have the right leaders at the right time,” Parag Agrawal, Twitter’s chief executive officer, said in the memo to employees. Mr. Sullivan “product vision, ability to inspire, move quickly and drive change is what Twitter needs now and in the future.”
The memo says Twitter is also pausing most new hires and pulling back on discretionary spending, although the company currently has no plans to lay off employees. Part of this stems from the company falling short of its audience and revenue growth goals, Agrawal wrote.
Twitter has been in an uproar since Musk struck a deal last month to buy the social media service for $44 billion. The billionaire, who also runs electric car maker Tesla and rocket company SpaceX, said he will use Twitter privately and wants to improve the product. He has publicly criticized some of Twitter’s top executives, particularly for the way they moderate speech on the service.
Mr. Musk, who is still preparing some financing to buy, is expected to close the deal with Twitter in the next few months. In a pitch to investors, he said he wants to quadruple Twitter’s revenue by 2028 and increase its user base to 931 million by that time, up from 217 million at the end. last year.