Peter Fenton has been a long standing member of Twitter’s board of directors. However, he is finally leaving the company and is not seeking re-election after the expiration of his current term. The information comes from a filing with the Securities and Exchange Commission. This departure comes quite a while after Fenton was actually expected to leave the company and still manages to be something of a surprise.
Fenton was expected to leave Twitter’s board once the company finally settled on a new CEO. This was when the company was going through a period of relative disturbance and was looking for someone to take the helm. However, even as Jack Dorsey took over the reins and started settling into his job, Fenton stayed on for quite a while longer.
In its filing, Twitter said:
Peter Fenton, whose term expires at the upcoming annual meeting of stockholders, will not stand for re-election at the mutual agreement of the Board and Mr. Fenton. The Company and the Board are grateful to Mr. Fenton for his years of service.
The filing also contained information associated with former CFO and the incumbent COO Anthony Noto’s compensation. Noto apparently received $23.8 million in 2016.
Apart from Twitter, Fenton is a General Partner at VC firm Benchmark Capital and has been one since May 2006. His areas of investments include software, digital media and other tech-enabled services. His experience in venture investment extends prior to Benchmark and he was also a managing partner at Accel Ventures.
