NEW YORK (TheStreet) -- Twitter (TWTR) shares are down 1.47% to $34.74 in early market trading on Monday after the company's VP of corporate development and strategy resigned from the company, according to an Re/code report after the closing bell Friday.
Rishi Garg, who joined the company in May 2014 left Twitter to pursue other projects, according to the the tech industry news service.
Garg made the announcement via a tweet on the social media website saying
1/ After an amazing ride as Twitter’s VP Corporate Development and Strategy, I’m saying farewell today— Rishi Garg (@rishigarg) June 26, 2015
Garg's resignation marks the second departure from the company's mergers and acquisition division in the past 30 days.
Longtime director Jessica Verilli left the company to take a job at Google Ventures (GOOGL) late last month.
Jim Cramer, portfolio manager of the Action Alerts PLUS charitable trust, which owns shares of Twitter and currently has a 'D' rating, its lowest, on the stock, had this to say about Garg's departure:
"Twitter's dithering is what causes these departures. There is still no good news on this Action Alerts PLUS stock but we are patient betting it can trade down to $30 where we will try to get a better basis on this utter disaster."
TheStreet Ratings team rates TWITTER INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation: