Will Twitter (TWTR) Stock React to Another Executive Resignation?

NEW YORK (TheStreet) -- Shares of Twitter (TWTR) may react after the social media company's vice president of corporate development Rishi Garg announced that he is leaving via a tweet.

Garg, who joined Twitter from Square in May of 2014 tweeted this afternoon:

He didn't say where he is headed, but added in a later tweet that he will be pursuing "some exciting new projects."

During Garg's time at Twitter, the company acquired about a dozen companies including live video product Periscope, and social advertising company Niche. 

Last month, Twitter's M&A team director Jessica Verilli left for Google Ventures.

And earlier this month, the company announced its CEO Dick Costolo is stepping down.

Costolo will step down from the position effective July 1, while co-founder Jack Dorsey will act as interim CEO to take his place.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio and Director of Research Jack Mohr wrote in a post on Action Alerts Plus, "We are pleased with this move, and have been calling for Costolo to step down (quite prominently) for quite a long time now, as we believe the company lacks a clear and consistent vision and strategy."

Shares of Twitter ended Friday's regular session up 0.23% to $35.25 today.

San Francisco-based Twitter is a global platform for public self-expression and conversation in real time, where any user can create a tweet and any user can follow other users.

The company generates its advertising revenue primarily from the sale of its three promoted products which include promoted tweets, promoted accounts and promoted trends.

TWTR ChartTWTR data by YCharts

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