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More resignations hit Twitter

By Reuters
US, 29 Jun 2015

Twitter's Rishi Garg, VP of corporate development and strategy, has resigned from the company to pursue other projects, technology blog Re/code reported, citing a tweet from Garg.

Garg, who led the company's mergers and acquisition team, joined Twitter in May 2014, according to his LinkedIn profile. He had previously worked at Square, Re/code reported.

This is the second resignation at Twitter's mergers and acquisition team. Jessica Verilli resigned last month as the director of corporate development and strategy, to take a role at Google Ventures, the technology blog said.

Earlier this month, Twitter CEO Dick Costolo stepped down, to be replaced by co-founder Jack Dorsey on an interim basis, although that move failed to halt the weeks-long slide in the company's shares, Reuters reported. According to the wire service, Twitter stock has shed more than a third of its value since it reported first-quarter results in April.

Costolo quit after pressure from investors frustrated by the micro-blogging company's slow growth.

Analysts have noted the site has an uncertain future unless it can reverse slowing user growth by introducing new features that will help it win a bigger chunk of the digital advertising market from rivals such as Facebook.

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