Twitter media head, product chief departing company (report)

Twitter CEO's Net Worth Falls Below $1 Billion
Twitter CEO's Net Worth Falls Below $1 Billion

Twitter is losing two senior level executives.

VP global media Katie Jacobs Stanton and senior vp product Kevin Weil have both departed from the social media company, according to a report in Re/Code.

The executives are said to be leaving without new jobs lined up and their roles will be filled by interim replacements. Per the Re/Code report, the changes will be announced on Monday along with news that the company has hired a chief marketing officer. A Twitter spokesman did not immediately respond to a request for comment.

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Stanton joined Twitter in 2010 as vice president of international and took over as media head in June 2014 following the departure of Chloe Sladden. She had been charged with working with publishers to compete with Facebook and Snapchat as they have doubled down on their efforts in that area.

Weil has been with Twitter since 2009, rising up the ranks until February last year, when he took over as head of product. The last big product launch under his oversight was Moments, the story-driven feature that launched in October.

Their departures come after a year of upheaval for Twitter, which has been plagued by slowing subscriber growth. Co-founder Jack Dorsey resumed the role of CEO in October following the departure of former chief Dick Costolo in July.

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Under Dorsey's watch, Twitter announced plans for a restructuring that would cut staff by 8 percent. The product-minded exec has also announced some new features, including Moments and a new "like" button in the shape of a heart. He is said to be considering a move away from its 140-character limit. But the company has continued to struggle to attract new users, and it's stock price has declined. Shares dropped to $16.69 on Jan. 19, nearly 69 percent off its 52-week high.

Twitter stock closed flat on Friday at $17.84. Shares were up 1 percent during after-hours trading on the New York Stock Exchange. The company is scheduled to release fourth quarter and 2015 earnings on Feb. 10.