Twilio (NYSE: TWLO) made waves today as the stock surged by 5.9%, closing at a price of $73.11 per share. The company released a statement announcing a significant change in its leadership team and provided a positive outlook for its financial performance.
Khozema Shipchandler, who previously held the position of President of Twilio Communications, has been appointed as the new Chief Executive Officer, succeeding Jeff Lawson, the co-founder of Twilio. Jeff Epstein, a member of Twilio's board, has been appointed as the new Chair of the board of directors. Shipchandler, who brings over 25 years of experience in driving financial performance across global, public organizations, expressed his commitment to leading Twilio into its next era. He stated, "I am focused on continuing to build on the considerable growth and operating improvements we've made across the board, plus taking a fresh look at the areas of the business that are underperforming to realize the full potential of our business."
Jeff Lawson, the outgoing CEO, reflected on his journey with Twilio, emphasizing the company's growth from inception to its current position as a leading player in the industry. He expressed confidence in Shipchandler's leadership, stating, "Khozema is a great leader, and I am confident he will lead the company well."
Twilio also provided a positive outlook for its financial performance, expecting to exceed its financial guidance for the fourth quarter and full year 2023 results. The company is set to report its fourth quarter 2023 revenue, non-GAAP income from operations, and fiscal year 2023 non-GAAP income from operations above the previously provided guidance ranges. The detailed results will be released on February 14, 2024, followed by a conference call to discuss the results with the investment community.
The full 8-K submission is available here.