Twitter co-founder Evan “Ev” Williams is stepping down from the company’s board, Twitter announced in a SEC filing Friday afternoon. Williams will depart from the board at the end of this month, according to the filing.
Williams co-founded Twitter in 2006, and briefly led the company as its CEO from 2008 to 2010. He said he was grateful and lucky to work with the board since it has been formed.
Fellow co-founder and current CEO Jack Dorsey thanked Williams for his work Friday, saying that the company was “going to miss your voice in our board conversations.”
He thanked all 4000 twitter employees for their support. Creating a worldwide network is not simpler without their support.
Williams’ term on Twitter’s board was set to expire in 2021.
The departure doesn’t come as a complete surprise to anyone who has closely followed the company’s financials. Williams has been divesting much of his Twitter ownership recently, selling off around 8 million shares over the last three months alone, according to SEC filings.
Williams owned 29 million Twitter shares in April of 2018. By February of 2019, that number was down to around 11 million. This means that he now owns just around 1.5% of the company, based on outstanding shares, as opposed to 3.86% he held back in April of 2018.
Twitter’s stock closed up 3 percent Friday, trading at nearly $32 a piece for a market cap of north of $24 billion.
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