Twilio Appoints Khozema Shipchandler as CEO, Anticipates Exceeding Q4 Revenue Projections
Twilio has appointed Khozema Shipchandler, an internal appointee and former finance chief since 2018, as its new CEO. This move follows the presidency at Twilio Communications and succeeds outgoing CEO Jeff Lawson. The leadership transition coincides with Twilio’s positive outlook on exceeding the fourth-quarter revenue projections, propelling the cloud communications company’s shares up by approximately 7%.
The departure of Jeff Lawson, who has dedicated over 15 years to the company, is emphasized as amicable and not arising from any disagreements. Twilio, headquartered in San Francisco since its establishment in 2008, witnessed a notable 55% surge in its stock value throughout 2023.
Sustained Demand and Strategic Workforce Reduction
Specializing in products that facilitate developers in constructing communication features, Twilio continues to experience strong demand amid the increasing adoption of cloud communication solutions. In a strategic move towards profitability, the company recently announced plans to trim its workforce by around 5% by the first quarter of 2024.
Despite this reduction, remains optimistic about surpassing earlier projections for adjusted income from operations, both in the fourth quarter of 2023 and for the entire fiscal year. The company had initially forecasted its revenue for the quarter ending December 31 to fall within the range of $1.03 billion to $1.04 billion.
Scheduled for February 14, after the market’s closure plans to unveil its fourth-quarter and full-year results. This corporate development underscores the company’s commitment to navigating evolving market dynamics while sustaining growth and adaptability.
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