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Biz Stone To Save The Day At Twitter?

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Twitter Inc. (TWTR), which is struggling with a string of executive and employee departures, can breathe a sigh of relief. The social networking giant's co-founder Biz Stone is rejoining the company after a period of six years.

Stone, who left Twitter in 2011, wrote in a post on Medium that he will be returning to full-time work at the micro-blogging site starting in a couple of weeks. Stone stressed that he was not replacing anyone at Twitter or filling a vacancy.

"My top focus will be to guide the company culture, that energy, that feeling. This is where Jack, and Twitter's inestimable CMO, Leslie Berland, feel I can have the most powerful impact," according to Stone.

Stone said he was invited back to Twitter by CEO Jack Dorsey, adding that the job description includes "being Biz Stone." Dorsey, another co-founder of Twitter, took over as CEO in October 2015.

"My excitement at the chance to work on Twitter again with Jack, Leslie and the entire team around the world is over-the-moon. As I truly believe, and as I've written before, the Tweets must flow," Stone wrote.

Stone's return to Twitter could help boost morale at the company, which is grappling with a string of executive departures and job cuts. The company is trying to control costs amid slowing sales growth and sluggish user growth.

Twitter recently reported a net loss for the first quarter that narrowed from last year, despite lower revenues. However, revenue and adjusted earnings per share for the quarter topped market estimates.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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