Twilio’s Jeff Lawson Steps Down From CEO Role and Board (1)

Twilio Inc. Chief Executive Officer Jeff Lawson is stepping down from leading the software company he co-founded amid slowing sales growth and pressure from activist investors.

Lawson will be replaced by Khozema Shipchandler, who most recently led the communication business unit, Twilio said in a statement Monday. Lawson will also step down from the board and Jeff Epstein, a former Oracle Corp. executive, will become board chair. Twilio shares jumped 7% in New York at 10:35 a.m.

The company, known for its businesses-to-consumer communication services, has struggled to maintain its once-high revenue growth and investor excitement. It has announced ...