Chief Executive Officer of Twitter Jack Dorsey is revamping his top ranks in an attempt to revive the straggling social media company's growth, Reuters reported. Media head Katie Jacobs Stanton, product head Kevin Weil, the head of the engineering division Alex Roetter and HR head Brian "Skip" Schipper will all leave the company, Dorsey said on Sunday.

Addressing what he called inaccurate press rumors, Dorsey, who was previously chairman of the company, praised the four executives and said they “are taking some well-deserved time off.” Agency reports added that the company is also expected to announce two new board members soon.

Twitter's stock has fallen nearly 50 percent since Dorsey's return last year and is now trading below its IPO price. There have been concerns that the company has failed to significantly boost its user base despite a quicker pace of product rollouts under Dorsey.