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Twilio’s CEO and co-founder, Jeff Lawson, is stepping down from his role and his seat on the company’s board, following months of pressure from activist investors and several quarters of slowing revenue growth. Khozema Shipchandler, Twilio’s president and a former GE denizen, is taking over as CEO. While the timing of the move was a surprise, it’s not a massive shock to see Lawson heading for the exits. Investors have long made clear their discontent with Twilio’s recent performance, and at some point, either the results improve or something changes at the top. First, activist pressure on companies is not something that can always be ameliorated by a board shakeup or smaller changes to operations.