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Twitter to pay Kordestani annual base salary of $50,000

Twitter said it would pay new executive chairman Omid Kordestani an annual base salary of $50,000 and a one-time grant of options to buy 800,000 shares of the microblogging website operator.

The company said it does not expect Kordestani to be appointed to any committee of the board.

Twitter poached Kordestani from Google on Wednesday, the latest step in the company's turnaround efforts under Jack Dorsey, who last week was named permanent CEO.