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Twitter Brings in Bret Taylor to Drive Product Innovation
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Twitter Inc. recently appointed Bret Taylor to its board in yet another instance of management reshuffle. This social media veteran is expected to boost the company’s product development initiatives to revive stagnating growth.
Taylor has been serving as the CEO of the startup, Quip which he had co-founded in 2012. Prior to that, Taylor held the roles of chief technology officer at Facebook and group product manager at Alphabet’s (GOOGL - Free Report) Google. Taylor was also a key member in co-creation of Google Maps.
A Twitter executive stated "Bret brings to our Board a great mind for consumer products and technologies that will be invaluable to the company as we execute our plans for 2016 and beyond. His skills also complement those of our other recent Board additions, who bring expertise in finance, media, and entrepreneurship."
The move should have been well received. But that has not been the case given the company’s recent performance. Over the last few months, not only has the company been underperforming the market but has also lost a number of its high profile executives.This makes analysts much more apprehensive about the company’s future growth.
Twitter, since the return of Jack Dorsey as the CEO, has been undergoing a major product and management overhaul aimed at countering its sluggish user growth and monetization woes (not to forget that it is still not making profits). Under such a circumstance, the addition of so many new members in leading roles is definitely escalating concerns, more so, when peers like Facebook, Instagram and Snapchat are doing quite well. All this even led to rumors Twitter might have to look for appropriate buyers.
At present, Twitter carries a Zacks Rank #3 (Hold). A better-ranked stock worth considering is NetEase, Inc. (NTES - Free Report) , sporting a Zacks Rank #1 (Strong Buy).
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Twitter Brings in Bret Taylor to Drive Product Innovation
Twitter Inc. recently appointed Bret Taylor to its board in yet another instance of management reshuffle. This social media veteran is expected to boost the company’s product development initiatives to revive stagnating growth.
Taylor has been serving as the CEO of the startup, Quip which he had co-founded in 2012. Prior to that, Taylor held the roles of chief technology officer at Facebook and group product manager at Alphabet’s (GOOGL - Free Report) Google. Taylor was also a key member in co-creation of Google Maps.
A Twitter executive stated "Bret brings to our Board a great mind for consumer products and technologies that will be invaluable to the company as we execute our plans for 2016 and beyond. His skills also complement those of our other recent Board additions, who bring expertise in finance, media, and entrepreneurship."
The move should have been well received. But that has not been the case given the company’s recent performance. Over the last few months, not only has the company been underperforming the market but has also lost a number of its high profile executives.This makes analysts much more apprehensive about the company’s future growth.
TWITTER INC Price and Consensus
TWITTER INC Price and Consensus | TWITTER INC Quote
Twitter, since the return of Jack Dorsey as the CEO, has been undergoing a major product and management overhaul aimed at countering its sluggish user growth and monetization woes (not to forget that it is still not making profits). Under such a circumstance, the addition of so many new members in leading roles is definitely escalating concerns, more so, when peers like Facebook, Instagram and Snapchat are doing quite well. All this even led to rumors Twitter might have to look for appropriate buyers.
At present, Twitter carries a Zacks Rank #3 (Hold). A better-ranked stock worth considering is NetEase, Inc. (NTES - Free Report) , sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>