The revamp originally was reported by the Wall Street Journal and tech news website Re/code, before Dorsey confirmed the departure of several senior executives in a tweet sent out today.
Leaving the company are Alex Roetter, head of engineering; product chief Kevin Weil; Katie Stanton, the head of media; and Skip Schipper, Twitter's vice president of human resources.
"I'm forever grateful to @aroetter, @katies, @skipschipper & @kevinweil for everything they've given to Twitter. They are absolutely amazing!" Dorsey wrote at his @jack Twitter account, adding that he was "sad" they are leaving.
"All four will be taking some well-deserved time off. I'm personally grateful to each of them for everything they've contributed to Twitter and our purpose in the world," Dorsey wrote. "They are phenomenal people!"
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The Journal reported that Twitter planned to take on two new board members as early as this coming week, at least one of whom it said was a high-profile executive in the media industry.
The newspaper reported that as a condition of returning as chief executive last year, Dorsey had told Twitter that all board members must eventually be replaced. The panel includes fellow co-founder Evan Williams, one of the largest individual owners of company stock, according to the Journal.
Dorsey currently is managing two firms, Twitter and mobile payments startup Square -- both multi-billion dollar companies struggling to achieve profitability.
He is credited with coming up with the idea for Twitter when eventual co-founder Evan Williams gave workers at blogging startup Odeo two weeks to work on fun new projects as a way to break up the daily routine.