Twitter Names PepsiCo CFO to Its Board of Directors

NEW YORK (AP) -

Twitter has appointed PepsiCo’s chief financial officer to its board.

Hugh Johnston has served as PepsiCo Inc.’s CFO since 2010. The 54-year-old executive also serves as vice chairman of the food and beverage company.

Twitter Inc. also disclosed in a regulatory filing that Martha Lane Fox will serve as a director. The 43-year-old executive is a co-founder of travel and leisure website lastminute.com.

Board members Peter Currie and Peter Chernin’s terms expire at Twitter’s 2016 annual shareholders’ meeting. The filing says Currie and Chernin were not considered for re-election, at their requests.

Twitter turned 10 years old last month. After a long streak of robust growth that turned it into one of the internet’s hottest companies, Twitter’s expansion has slowed dramatically over the past year-and-a-half.

At the end of 2015, it had about 320 million active users, far short of social-networking leader Facebook and its 1.5 billion users.

The company rehired Jack Dorsey for a second stint as CEO last summer, and he signaled his resolve to make Twitter profitable by laying off 336 employees, or 8 percent of its workforce.

But Twitter lost another $90 million during the final three months of last year, preserving its profitless history.

In trading early Friday afternoon, Twitter shares dropped 46 cents, or 2.7 percent, to $16.52. Twitter’s November 2013 initial public offering price was $26, and it reached $70 per share in early 2014.