• by Gavin O'Malley  @mp_gavin, April 8, 2016

Twitter board members Peter Currie and Peter Chernin have decided not to stand for re-election, Twitter has revealed in a regulatory filing.

Taking their place are Hugh Johnston, CFO of PepsiCo, Martha Lane Fox, co-founder of travel site Lastminute.com, according to the struggling social giant.

“This matters & is a must,” Twitter’s second-time CEO Jack Dorsey tweeted on Friday.

The addition of Johnston and Fox “will bring diversity and represent the strong communities on Twitter,” Dorsey added. Like most tech giants, Twitter has been widely criticized for the lack of diversity within its ranks. Yet of late, diversity has been the least of Twitter’s problems.

Citing a flattening of its user expansion, eMarketer recently lowered its ad-spending projections for the company.

Twitter will generate $2.61 billion in ad revenues in 2016 -- down $340 million from the $2.95 billion that eMarketer projected in its last forecast in the third quarter of 2015.

eMarketer analysts attributed the downward revision to a slowdown in the expansion of consumers using Twitter, explaining: “Despite Twitter's efforts to get more people to use the platform through features like Moments, user growth seems to have come to a near standstill.”

Martin Utreras, eMarketer senior forecasting analyst, estimates that 90% of Twitter’s revenues would be derived from mobile users, noting, "We have yet to see material monetization of logged-out users.”

eMarketer projects that Twitter’s user base will climb to 291 million users worldwide this year, but reduced its estimates for the number of U.S. Twitter users ages 12 to 24 and 65 and older in the U.S., based on its new data.