Twitter loses COO

Social media platform Twitter said Friday that Ali Rowghani has resigned from his position as Chief Operating Officer. The company did not give a reason for the departure but it is thought that investors were disappointed with Rowghani’s failure to grow user numbers significantly.

A former Pixar executive, Rowghani joined Twitter in 2010 as CFO and became COO in 2012, helping the company navigate its IPO in 2013. He will remain at the company in a strategic advisory role to CEO Dick Costolo.

“Twitter does not intend to hire a replacement for the COO role, and all of Mr. Rowghani’s operating responsibilities will be assumed by other members of the Twitter management team,” the company said.

Twitter’s share price has struggled since its IPO, at one point plunging as low as 40 per cent off it’s launch point. The company reported a net loss of $132m for the first quarter of 2014, up considerably from the $27m loss for the same period last year. Revenues for the same period jumped over 119 per cent however, to $250m, versus $114m a year ago.

The firm chalked up $126m of its loss to stock-based compensation expense, which is where stock options are used to reward employees, based on the idea that employees will work harder because they want the stock to rise.

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