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Twitter says Dorsey continues to forego direct compensation

Saturday, February 13, 2016 - 07:51
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Twitter Inc Chief Executive Jack Dorsey has agreed to continue to forego any form of direct compensation, a regulatory filing by the company showed on Friday.

[SAN FRANCISCO] Twitter Inc Chief Executive Jack Dorsey has agreed to continue to forego any form of direct compensation, a regulatory filing by the company showed on Friday.

Dorsey in June agreed to no salary until the company's compensation committee agreed upon a package for him.

The committee decided on Wednesday to introduce a performance-based equity compensation programme for Twitter's top executives to tie their performance more closely with that of the company, according to the filing.

Twitter reported its first quarter of no growth in users earlier this week, stoking fresh concerns on how long it will take for the company to reverse the trend.

In January, four top executives left the company. Following the departures, Twitter named American Express Co executive Leslie Berland as its chief marketing officer.

Facing slowing user growth, Twitter has been experimenting under Dorsey, who became interim CEO in July and then CEO in October, with ways to make its website more engaging.

REUTERS