Why Did TTD Stock Close Down Nearly 7% Today?

• Melinda Zurich, a top communications executive, and Matthew Henick, senior vice president of consumer products, also left the company, as per the report.
• Anna Sayre, who has also worked on marketing at the company for about the same number of years as Colley, will replace him, as per the report. 
• Meanwhile, Stocktwits users dismissed the departures.

Shares of Trade Desk Inc. (TTD) closed down about 7% lower on Tuesday after reports of three key executives departing from the ad-tech company.

According to a report from Adweek, chief marketer and executive VP Iana Colley announced his departure. Melinda Zurich, a top communications executive, and Matthew Henick, senior vice president of consumer products, also left the company.

Recently, board member Lise Buyer also resigned from the company.

Leadership Upheaval

"I'm stepping down from TTD after more than 7 years, in order to pursue an exciting new opportunity that I'll be able to talk about in a couple of weeks," Colley reportedly told Adweek.

"We've done some incredible marketing work at TTD in recent years, positioning the company as the industry's leading independent DSP, and in championing the power and value of the open internet," Colley said.

Anna Sayre, who has also worked on marketing at the company for about the same number of years as Colley, will replace him, as per the report.

Henick, who also led Trade Desk’s streaming operating system Ventura TV OS, will be replaced by ex-Google employee Rob Caruso.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around TTD stock improved from ‘bearish’ to ‘neutral’ territory over the past 24 hours amid ‘low’ message volumes.

One bullish user said that executives leaving the company did not indicate a broken business, but instead meant a new direction with fresh minds.

Another user said the executives’ departure was ‘good news.’

Shares of TTD have declined about 45% so far this year.

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