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Monday, March 27, 2023

Twitch CEO Emmett Shear is Resigning

Twitch CEO Emmett Shear is Resigning – Twitch’s CEO, Emmett Shear, will be stepping down from his position after serving as the company’s chief executive for over a decade. Shear was among the founders of Justin.tv, a live-streaming platform for various content, which later developed into Twitch, a gaming-focused spin-off. 

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Twitch eventually became the team’s main focus, and Amazon acquired it in 2014 for $970 million, a bargain considering its significant cultural influence in the present day. Shear expressed his readiness to move on from the company that he has been deeply involved with for 16 years in a blog post. “Twitch often feels to me like a child I’ve been raising as well,” Shear said. 

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“And while I will always want to be there if Twitch needs me, at 16 years old it feels to me Twitch is ready to move out of the house and venture alone.” Effective immediately, Twitch’s President, Dan Clancy, will assume the CEO position at the company, while Shear will stay on as an advisor in a leadership transition. The promotion of Twitch’s President to the CEO position following Shear’s decision to step down is not entirely unexpected. 

Clancy was already heavily involved in the company’s day-to-day operations and had represented the company publicly in discussions on its key issues. In September of last year, he wrote a lengthy letter to the Twitch community to address the contentious changes to the platform’s revenue sharing model with its most popular streamers.

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“Emmett has dedicated 16 years to building Twitch, fostering our mission, and inspiring and empowering all of us to serve this incredible community,” Clancy said. “I’m so grateful for his partnership over the last four years, and for the opportunity to continue this work alongside a team that cares so deeply about our streamers and the larger Twitch community.”

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