Jeff Lawson, founder, CEO and chairman of Twilio, speaks at a press convention throughout the Cellular World Congress on March 1, 2017 in Barcelona, Spain
Joan Cros Garcia/Corbis | Corbis Information | Getty Photographs
Twilio co-founder Jeff Lawson on Monday stated he’s stepping down as CEO of the enterprise communications software program firm as the corporate grapples with two activist traders who’ve been pushing for vital modifications on the firm.
Shares of Twilio are up about 7.3% on the information.
“The time has come for me to move the reins of this extraordinary firm to a brand new CEO to steer Twilio via its subsequent chapter,” Lawson stated in a weblog submit asserting the change.
Khozema Shipchandler, a longtime Twilio govt, will assume the highest function, efficient Monday.
“As we have beforehand mentioned with Twilio’s Board of Administrators, we imagine Founder Jeff Lawson’s departure from the corporate could be a step in the correct path and are happy with the management change introduced immediately,” stated Anson Funds portfolio supervisor Sagar Gupta.
“That stated, we imagine that extra actions are wanted to maximise worth for shareholders. We look ahead to persevering with to have interaction with Twilio’s Board and administration group going ahead,” he added.
Twilio didn’t instantly reply to CNBC’s request for remark.
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