Twitter Stock Surges After Another Reorganization

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Twitter CEO Jack Dorsey

There has been a string of departures at Twitter in the past year, as the company looks for ways to renew growth and bolster its finances.

Twitter shares rose 6 percent Friday after reports surfaced that the social media company would be going through another mini-reorganization.

Jana Messerschmidt and Nathan Hubbard, Twitter's head of business development and head of global media and commerce, respectively, will both depart the company.

Recode first broke the news. The outlet said Amplify's vp video advertising will join Twitter, assuming the duties of both Messerschmidt and Hubbard.

There has been a string of departures at Twitter in the past year, as the company looks for ways to renew growth and bolster its finances.

On Friday, reports also surfaced that Madhu Muthukumar and Vijay Pandurangan, two managers responsible for launching Twitter Moments in October, both left the company.

Twitter Moments provides users with a collection of the best tweets and videos related to the day's breaking news.

Muthukumar left a week ago to join Oculus, the virtual-reality firm owned by Facebook, while Pandurangan quietly left Twitter in March.

Twitter launched its Moments product with great fanfare, which included CEO Jack Dorsey calling it a "bold new experience" representing a "real shift in our thinking."

Twitter Moments, though, hasn't done much to improve Twitter's financial reports, nor have all the changes in management. The company reported $595 million in revenue in its most recent quarter, while analysts expected $608 million.

Twitter stock rose 80 cents Friday to $15.10, but is still off 59 percent from the past year.

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