Twitter has a new chairman: Patrick Pichet, who was recently Google’s chief financial officer.
Omid Kordestani – another former Google executive – has resigned as Twitter’s executive chairman, effective June 1, and will remain on the board as a non-executive director. Pichett has served as the company’s leading independent director since December 31, 2018.
The appointment comes after a deal was struck with Twitter employee investor Elliott Management – which is trying to oust CEO Jack Dorsey – under whom Dorsey is the chief executive of the social network. Also, private-equity firm Silver Lake has invested 1 1 billion in Twitter, and Twitter has also hired Elliott and Silver Lake executives on its board.
“Given the strength and depth of Twitter’s management team and board, we believe that now is the right time to develop our governance structure in line with best practice,” Peachty said in a statement. “Omid is a valuable member of our executive management and has brought significant leadership and stability to the team over the past five years. We demonstrate our commitment to good governance and are pleased to be in a position to make this important change. We look forward to continuing Omid’s expertise on the board. “
Kordestani, who was nominated as Twitter’s executive chairman in 2014, said in a statement: I first saw the important changes that Twitter has made to strengthen and stabilize the leadership structure to achieve long-term sustainable growth, and I feel confident that I can now move from an active role to an executive chair. Patrick was an important, unique voice in the boardroom and he was the right person to take on this new role as an independent chair. I look forward to continuing my work as a board member. ”
Pichet served as SVP and chief financial officer of Google from August 2006 to May 2015. Prior to joining Google, he served as President of Bell Canada Enterprises in his last position as President of Bell Canada Operations. As CFO and EVP of planning and execution management.
Pichetti was chairman of McKinsey & Co. from 1996 to 2000, and before that he was VP and CFO of Call-Net Enterprises, a Canadian telecommunications company.
Pichet has been a member of the board of directors of Bombardier, an aircraft and train manufacturer, since October 2013, and has served on its audit committee and human resources and compensation committee. Pichet holds a master’s degree in philosophy, politics and economics from Oxford University, where he holds a Rhodes Scholar and a bachelor’s degree in business administration from the University of Quebec-Montreal.