Twitter share price: Ex-Pearson CEO named first female board member

on Dec 6, 2013
Updated: Oct 21, 2019
Listen, Friday, December 6: Twitter Inc. (NYSE:TWTR) announced yesterday that Marjorie Scardino, the former CEO of UK-based media group Pearson (LON:PSON), has joined its board, following harsh criticism for the lack of women in its top ranks. The appointment is effective immediately, the social media firm said in a SEC filing. The addition of Scardino will increase the number of Twitter’s board members to eight. She will replace David Rosenblatt on the audit committee, while Rosenblatt will continue to serve on the compensation committee and the nominating and corporate governance committee. The filing also revealed that Scardino has been granted a restricted stock unit award of 4,018 Twitter shares, which will vest quarterly over one year.

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Scardino, who is now 66, became the first woman to lead a FTSE 100 company when she was appointed Pearson’s chief executive in 1997. She stepped down last year, after having transformed the British company into the world’s largest book publisher. During Scardino’s tenure, Pearson’s head count more than doubled to 41,520 in 2011, while sales increased to £5.87 billion and operating profit tripled to £942 million. The company’s share price rose over 80 percent, outperforming the FTSE 100 index, which gained about 40 percent during the same period.

Before heading up Pearson, Scardino was CEO of media firm The Economist Group. She was also a board member at Finnish telecoms equipment maker, Nokia, from 2001 to April 2013.
“It seems to be a relevant and helpful addition to the board based on her international experience and experience in the media business,” Carlos Kirjner, an analyst at Sanford C. Bernstein & Co., told Bloomberg.

**Cookie-based ad targeting**
Twitter, which has been enjoying solid revenue growth, but is still loss making, announced yesterday it is launching ‘retargeted ads’ facilitated by browser cookies in a bid to attract more ads and boost its advertising revenue. This means that the microblogging service will begin showing ads to users based on their browsing history, like many other Internet companies, including Facebook (NASDAQ:FB) and Google (NASDAQ:GOOG).

**‘Offline’ tweets coming early next year**

In another development yesterday, Reuters reported that Twitter has tied up with Singapore-based U2opia Mobile to make its messaging service available to mobile phone users in emerging markets who have entry-level handsets, which cannot access the Internet. ‘Offline’ tweets are set to be launched in the first quarter of next year, U2opia CEO Sumesh Menon told Reuters. More than 11 million people currently use U2opia’s Fonetwish service, which allows them to access Facebook and Google Talk on a mobile without a data connection.

Twitter’s share price rose 4.42 percent on the New York Stock Exchange yesterday to close at $45.62, 75 percent above the price at which the social media firm priced its $2.1 billion (£1.3 billion) IPO last month.
**As of yesterday’s NYSE close buy Twitter shares at $49.00.**
**As of yesterday’s NYSE close sell Twitter shares at $44.93.**
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