Twitter has named Patrick Pichette as Chairman. Pichette, who has been a member of the company’s board for more than two years, is also General Partner at Montreal’s iNovia Capital, and a former Google CFO. He replaces Omid Kordestani who recently stepped down.
“Given the strength and depth of Twitter’s management team and board, we believe that now is the right time to evolve our governance structure in-line with best practices,” Pichette said in a statement. “We are pleased to demonstrate our commitment to good governance and be in the position to make this important change. We look forward to continuing to benefit from Omid’s expertise on the Board.” Kordestani will remain on as a board member.
The appointment comes at a crucial time for Twitter, which has been both praised and criticized for its handling of recent misleading tweets from US President Trump. Displeased by being flagged as misinformation, Trump has pledged to regulate social media platforms to prevent the recurrence to such incidents.
Pichette’s appointment comes after the micro blogging platform recently came to an arrangement with activist shareholder Elliot Management. Twitter Co-Founder Jack Dorsey will remain CEO. Meanwhile private-equity firm Silver Lake has also invested $1 billion in the social network. Twitter has now appointed executives from Elliott and Silver to its board as well.