Twitter beefs up its board in an attempt to retain top staff and increase users and revenue.
Twitter, battling to stop the departure of its top line people and do something about its slow user growth and unimpressive stock market performance, has recruited some big names for its board.
The new board members are Pepsi vice chairman and CFO Hugh Johnston, and Martha Lane Fox, the British internet entrepreneur who founded Lastminute.com
Twitter’s CEO and tweeter-in-chief Jack Dorsey, tweeted that other appointments would follow.
These might be seen as curious appointments given that Johnston had never tweeted until the morning the news was announced when he sent out his first tweet: “Looking forward to partnering with @jack @omidkordestani and the @twitter Board to strengthen its power and impact.”
Still, they are important appointments for a company struggling to compete with outfits like Facebook,
“Turnover on the board was necessary — any development here is incrementally good news,” James Cakmak, an analyst at Monness Crespi Hardt told Bloomberg.
“You are bringing in the CFO of one of the biggest brand marketers in the world — there are definitely synergistic opportunities there. For Martha Fox, the international commerce experience certainly could help them think about ways they can increase conversion and possibly expand into new partnerships.”