Twitter is premiere, has named Patrick Pichette, former Google CFO, new president. Until now, he had held a position as an independent director.
The market has welcomed Pichette with increases of more than 8%. Far seems to be the fear of investors to possible retaliation by Donald Trump against the social network after it tagged one of his tweets as a possible hoax.
The news from the White House created real fear among investors and in three sessions the shares of the social network left about 10%.
It also didn't help that Trump signed an executive order against social media. However, this seems a thing of the past. The appointment of the new president of Twitter has coincided in time with a lawsuit against the US president for allegedly violating the First Amendment, which protects freedom of expression.
"We believe that now is the right time to evolve our governance structure in line with best practices," Pichette said in a statement after his appointment.