ref="http://www.cityam.com/company/twitter">Twitter's operations chief Ali Rowghani has stepped down amid concerns that the social network is struggling to add users.
The California-based company has seen its share price tumble over 40 per cent since January after revealing its user growth has slowed to just 5.8 per cent during the first quarter, down from 10 per cent in the same period last year.
“Twitter does not intend to hire a replacement for the operations chief role, and all of Rowghani’s operating responsibilities will be assumed by other members of the Twitter management team,” it said in a regulatory filing.
Rowghani, who moved into the role in December 2012, will continue to be a Twitter employee and act as a strategic adviser to chief executive Dick Costolo.
“Our read through is that product innovation hasn’t kept up with the pace expected by management and investors,” said Suntrust Robinson Humphrey analyst Robert Peck.
Twitter’s shares rose 3.5 per cent yesterday on the news and closed at $36.79 per share.