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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Tech

Twitter just appointed Google’s 11th employee as its executive chairman

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Leena Rao
Leena Rao
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By
Leena Rao
Leena Rao
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October 14, 2015, 10:09 AM ET
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Following layoffs across 8% of the company, Twitter (TWTR) is making news again, announcing a new board member Wednesday morning. Newly appointed Twitter CEO Jack Dorsey tweeted the news that Omid Kordestani, formerly Google’s longtime business chief, is joining the company’s board as executive chairman.

Twitter’s choice in a new board member makes sense, as Kordestani has built a reputation on being able to help companies create and grow revenue from nascent technologies. Kordestani joined Google (GOOGL) in its early days in 1999, and was credited with helping the company earn advertising revenue from Google search. He held a variety of roles at Google during his tenure, including senior vice president of worldwide sales and field operations, and chief business officer. When Google announced the news of creating a new holding company, Alphabet, in August, Kordestani revealed he was stepping down from his role but would remain as an advisor to Alphabet and Google.

Prior to his time at Google, Kordestani worked at early internet juggernaut Netscape, where he reportedly increased the company’s revenue from $88 million to more than $200 million less than two years.

In a series of tweets Dorsey said of Kordestani, “Omid is a proven & experienced leader, who will directly help & coach me and our leadership, and help us recruit the best folks to Twitter.”

Kordestani replaces the empty seat left by Twitter’s former CEO Dick Costolo, who stepped down from the company’s board in early October.

Kordestani’s first order as executive chairman of Twitter’s board: Tweet more. The former executive had Tweeted only a handful of times before Wednesday’s announcement.

For more on Dorsey’s new role as Twitter’s CEO, watch this video:

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