Jef Lawson, the CEO and co-founder of Twilio, an online communication platform for organizations, has announced his resignation from both the CEO and board positions. Khozema Shipchandler, former president of Twilio Communications, will be taking over as his replacement.
In addition to his role at Twilio, Lawson is also the author of the book “Ask Your Developer,” a business software book highlighting the importance of developers in building a business.
Twilio has faced pressure from two shareholder groups, Anson Funds and Legion Partners, to sell the company or at least divest the Data & Applications business group. Last year, Twilio had already laid off 5% of its workforce to trim down its video business.
During the COVID-19 pandemic, Twilio’s stock had reached a sky-high valuation of over $400. However, the stock price has since plummeted to less than $70 before experiencing a slight increase following this announcement. Despite this, Twilio has consistently reported consecutive losses and even higher losses over time, only recently starting to decrease in the year 2023.
TLDR: Jef Lawson, CEO and co-founder of Twilio, is stepping down from his positions. Khozema Shipchandler will take over as CEO. Twilio has faced pressure to sell or divest its Data & Applications business group. The company’s stock price has fluctuated and it has reported ongoing losses.
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