The exodus of key executives at Twitter (TWTR) continues. Early this year, the microblogging site received a major blow when it chief operating officer Anthony Noto left the company to become a CEO at Social Finance Inc. In fact over the past few years, the company hasn’t progressed more than a few months without losing its executives. The same trend follows this year with Chief Security Officer Michael Coates leaving the company.
Looks like Twitter is crashing in exactly the way it was predicted. Twitter had foreseen risks in certain areas, and yet it failed to prevent them from occurring.
The company couldn’t retain new users, was unable to attract users to its products and entirely skipped on innovating new products. Something that Jack Dorsey didn’t consider would hurt the business was retaining key talent on board. This constant senior turnover was at a peak in 2016 — Twitter lost almost 60 percent of its executives by the end of 2016.
The challenge continues for Twitter, as Michael Coates — the chief security officer — has decided to part ways with the company. Coates’ departure will definitely leave a hole, as his departure comes at a testing time for Twitter that has been under the pressure of intense scrutiny by lawmakers for failing to prevent data breaches and the spread of fake accounts.
This news comes just at the same time when its rival Facebook (FB) is on the verge of losing its Chief Information Security Officer Alex Stamos.
Twitter has appointed Joseph Camilleri, as the interim replacement for Coates. Camilleri is currently the senior manager for information security and risk.
Though being so influential, Twitter looks like a sinking boat. The company is losing its top executives at a crucial time when it attempts to revive its growth. While Facebook’s dip seems intermittent and bound by events, Twitter appears to have been plagued by bad luck in both the executive end as well as the product end.