Twitter’s layoffs come at the same time as it restructures its engineering organisation to make it more efficient.
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He was employee number 11 at Google, where he led business operations. That made him Google’s highest-paid employee. The remainder had vested, and were worth $23.5 million at Tuesday’s close. That does not include a pay raise either. Google did not comment on if there would be someone to take his place.
“We’re excited for Omid and very happy for Twitter”. On August 2014, he returned to the company as its Chief Business Officer and later became Senior Advisor and helped the company’s transition to Alphabet Inc.
Mr. Kordestani’s appointment furthers Google’s ties with Twitter. Kordestani’s return was widely hailed by Silicon Valley as a great move for Google.
“It’s rare you get to be at a company with an unbelievable business that’s also transforming the world”, he tweeted.
Twitter shares fell 3.1 per cent to $29.90 in extended trading on Friday (pictured).
Kordestani assumes the post that Jack Dorsey vacated when he was officially named Twitter’s CEO last week. We had anticipated before that Mr. Dorsey was going to stick around for running the company. As executive chairman, Mr. Kordestani will be taking on a more operational role that goes beyond overseeing the company’s performance, according to a Twitter spokesman.
Instagram launched in 2010 and was bought by Facebook in 2012.
Mr. Dorsey was making big changes to turn the game around for the struggling company, and the latest hiring is probably on his orders as well. He is credited to being at the turn point of the company’s first revenue-generating activities and as the person to have brought the company into profit for the first time.
Still, Kordestani’s ties to Google may trump his lack of tweeting.
Twitter and Google have other ties. His LinkedIn profile indicates he left Google just this month. But it wouldn’t be a huge shock to see Twitter and Google working even more closely.
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Suntrust analyst Robert Peck reportedly said just a few weeks ago: “While we know that tweets are not a flawless representation of engagement, we do think it is a fair analog and is instrumental in not only understanding the current product but also understanding where the product needs to evolve”.
