TWTR Down 6% After Exec Loss: Update

Shares of Twitter Inc

are down 6 percent following CEO Jack Dorsey's announcement of the departure of 4 key executives overnight. On Monday, Twitter's CEO Jack Dorsey confirmed in a

that a total of four executives are now leaving the company, including Stanton and Weil. TWTR is down 6.1 percent to $16.75 in New York on Monday morning's trading session. The departure is a result of Twitter's failure to improve its site quickly enough to reverse slowdown its user growth, according to people familiar with the matter. "I'm personally grateful to each of them for everything they've contributed to Twitter," Dorsey tweeted. CEO is Dorsey confirmed Twitter's Chief Kevin Weil, product VP of global media and Skip Schipper, Katie Jacobs Stanton, VP of human resources, and head of engineering Alex Roetter departures. Adam Messinger, Twitter's chief technology officer will now be taking over all of product and engineering. Adam Bain, Twitter's chief operating officer will be covering media and human resources responsibilities. Shares of Twitter have fallen over 50 percent the past year. The stock is currently trading at $17.84, below its IPO price of $26. Twitter is scheduled to report its fourth quarter earnings on February 10.