Twitter: Peter Fenton Not To Stand For Re-election To Board

(RTTNews) - Twitter, Inc. (TWTR) disclosed in a regulatory filing that its Board has nominated for re-election of Omid Kordestani, Marjorie Scardino and Bret Taylor to serve as Class I directors at the upcoming 2017 annual meeting of stockholders until its 2020 annual meeting of stockholders.

Twitter also noted that, under terms of mutual agreement, Peter Fenton, whose term expires at the upcoming annual meeting of stockholders, will not stand for re-election.

The company announced in its definitive proxy statement for its 2016 annual meeting of stockholders that it would be changing plurality voting for its election of directors to a majority voting with director resignation standard for its 2017 annual meeting of stockholders. On April 4, 2017, the Board amended the company's current bylaws to effectuate that change.

The Board also amended the company's Corporate Governance Guidelines to implement a Director Resignation policy.

TWTR closed Friday's regular trading session at $14.29.