stone_t
Advertisement Advertisement  

During this time—especially lately, it has come to my attention that the Twitter crew and its leadership team have grown incredibly productive. I’ve decided that the most effective use of my time is to get out of the way until I’m called upon to be of some specific use.”

Stone’s departure is the latest in several management shake-ups at the microblogging company, which has a valuation of $7.7bn and celebrated its fifth birthday earlier this year.

In March Dorsey returned to Twitter in a full time position leading the site’s product development, having been a part time chairman for several years. He directly replaced Williams, who had already stood down last year from the chief executive role to make room for the current chief Dick Costolo.

From March onwards Williams has had no daily involvement with Twitter as a business, but remains on the company’s board.

Stone’s exit sees him assume the same position as Williams.

“My plan is to take a bit more time to focus on helping schools, nonprofits, and company advisory boards as well as The Biz and Livia Stone Foundation. I’ll still commit part of my time to hands on help with Twitter wherever and whenever I can be of assistance,” he wrote.

Williams and Stone are also rejoining forces with Jason Goldman, one of Twitter’s former product engineers, to reform ‘The Obvious Corporation’, which was the name of Twitter’s original parent company.

Stone said of the reformed company: “Our plan is to develop new projects and work on solving big problems aligned along a simple mission statement: The Obvious Corporation develops systems that help people work together to improve the world.”

However, he did not expand upon what particular projects the company will look to create or invest in.

Earlier this year The Huffington Post hired Stone to head up its ‘social impact strategy’.

He has been tasked with developing a platform for the AOL-owned site to help people share their work in their local community and is also going to create a video series focused on companies and executives who are at the ‘forefront of philanthropy and corporate responsibility’.

Source: The telegraph