Twitter to pay Kordestani annual base salary of $50,000

Reuters News
Posted: Oct 16, 2015 9:19 AM

(Reuters) - Twitter Inc said it would pay new Executive Chairman Omid Kordestani an annual base salary of $50,000 and a one-time grant of options to buy 800,000 shares of the microblogging website operator.

The company said it does not expect Kordestani to be appointed to any committee of the board. (

Twitter poached Kordestani from Google Inc on Wednesday, the latest step in the company's turnaround efforts under Jack Dorsey, who last week was named permanent CEO.

Kordestani's appointment was a move by Twitter to allay concerns about Dorsey's dual role as head of mobile payments company Square Inc.

On Wednesday, Square filed for its long-expected initial public offering.

Kordestani, 51, joined Google as its 11th employee in 1999 and stayed for 10 years. After a few years away, he returned full-time in October 2014 as chief business officer.

At Google, Kordestani had an annual base salary of $237,500 and stock awards of about $123 million, according to the latest Google proxy filing.

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Don Sebastian)