Benchmark partner Peter Fenton, who had been on Twitter’s board since 2009, will not seek re-election after his term expires in 2016, according to a new filing with the Securities and Exchange Commission.
To be sure, Fenton was expected to depart the company’s board once his term expires, according to reports going back to when Twitter was searching for a permanent CEO. Twitter, at the time, was going through a lot of turmoil and big changes at the top were to be expected as the company finally settled on co-founder Jack Dorsey as its new CEO.
“Peter Fenton, whose term expires at the upcoming annual meeting of stockholders, will not stand for re-election at the mutual agreement of the Board and Mr. Fenton,” the company said in the filing. “The Company and the Board are grateful to Mr. Fenton for his years of service.”
Since then, Twitter has added former Facebook CTO Bret Taylor to its board and former Googler Omid Kordestani. With Twitter in peril, all eyes were searching for major changes at the top, and with Dorsey came multiple rounds of layoffs. But since then, Twitter still has seemingly not righted the ship.
Also in the filing: Former CFO and now COO Anthony Noto received compensation of $23.8 million in 2016. Noto took over as COO of the company in November last year.