CEO announces major shakeup at Twitter

Twitter is overhauling its top management said CEO Jack Dorsey, who announced the shakeup Monday as the social network struggles to boost its profitability and prospects for growth. The revamp originally was reported by the Wall Street Journal and tech news website Re/code, before Dorsey confirmed the departure of several senior executives in a tweet sent out early Monday.

Leaving the company are Alex Roetter, head of engineering; product chief Kevin Weil; Katie Stanton, the head of media; and Skip Schipper, Twitter's vice president of human resources.

"I'm forever grateful to @aroetter, @katies, @skipschipper & @kevinweil for everything they've given to Twitter. They are absolutely amazing!" Dorsey wrote at his @jack Twitter account, adding that he was "sad" they are leaving.

Dorsey, in a longer statement, addressed what he called "inaccurate press rumors" about the overhaul, saying the departing executives "have chosen to leave the company."

"All four will be taking some well-deserved time off. I'm personally grateful to each of them for everything they've contributed to Twitter and our purpose in the world," Dorsey wrote. "They are phenomenal people!"