Twitter Inc named Anthony Noto as CFO, putting the
well-regarded former Goldman Sachs executive who
led its successful November IPO in charge of
finances.
Twitter shares rose as much as 4.8 percent after the
messaging service announced its latest upper-
management shake-up. The previous CFO, Mike
Gupta, was named senior vice president of strategic
investments on Tuesday.
Twitter has reported lackluster user and usage
growth for the last couple of quarters and its stock
price has nearly halved in the last six months.
Last month, Twitter Chief Operating Officer Ali
Rowghani, who had been responsible for the
company's efforts to revive flagging user growth,
departed after clashing with Chief Executive d*ck
Costolo over whether he should continue to oversee
product innovation, according to a person familiar
with the matter.
Chloe Sladden, vice president of media, also
departed recently.
Hudson Square analyst Daniel Ernst said Noto's
experience as CFO at the NFL should help Twitter
gain more ground in television and advertising.
"He just brings a different skill set. A set that really
has very high level view of the competitive
landscape, he understands very well what the
investment community is looking for given his
previous role," Macquarie Research analyst Ben
Schachter said.
Gupta, who joined Twitter in 2012 from social
gaming company Zynga Inc, and Noto will take up
their new roles within 30 days, Twitter said in a
filing.
Noto, 46, a former Army ranger and National
Football League executive, started as an analyst at
Goldman and later became a managing director in
the investment firm's technology, media and telecom
investment banking group.
Noto, who was among a number of analysts who
touted stocks like Webvan and eToys that collapsed
during the 2000 dotcom bust, won plaudits for
netting Twitter's coveted IPO in 2013 and handling
its smooth market debut.
Goldman told employees in a May memo that Noto
was departing.
Noto will receive an annual salary of $250,000 and
one-time restricted stock options of 1.5 million
shares. As of Monday's close, those options were
valued at $61.5 million.
"I could not be more excited about joining the
@Twitter team & helping them reach every person in
the world," Noto tweeted after the announcement.
Twitter went public in November at $26 a share. The
stock rose to a high of $74.73 in December.
Shares rose as high as $42.95 on the New York Stock
Exchange on Tuesday before easing back to $42.71
by late morning.
well-regarded former Goldman Sachs executive who
led its successful November IPO in charge of
finances.
Twitter shares rose as much as 4.8 percent after the
messaging service announced its latest upper-
management shake-up. The previous CFO, Mike
Gupta, was named senior vice president of strategic
investments on Tuesday.
Twitter has reported lackluster user and usage
growth for the last couple of quarters and its stock
price has nearly halved in the last six months.
Last month, Twitter Chief Operating Officer Ali
Rowghani, who had been responsible for the
company's efforts to revive flagging user growth,
departed after clashing with Chief Executive d*ck
Costolo over whether he should continue to oversee
product innovation, according to a person familiar
with the matter.
Chloe Sladden, vice president of media, also
departed recently.
Hudson Square analyst Daniel Ernst said Noto's
experience as CFO at the NFL should help Twitter
gain more ground in television and advertising.
"He just brings a different skill set. A set that really
has very high level view of the competitive
landscape, he understands very well what the
investment community is looking for given his
previous role," Macquarie Research analyst Ben
Schachter said.
Gupta, who joined Twitter in 2012 from social
gaming company Zynga Inc, and Noto will take up
their new roles within 30 days, Twitter said in a
filing.
Noto, 46, a former Army ranger and National
Football League executive, started as an analyst at
Goldman and later became a managing director in
the investment firm's technology, media and telecom
investment banking group.
Noto, who was among a number of analysts who
touted stocks like Webvan and eToys that collapsed
during the 2000 dotcom bust, won plaudits for
netting Twitter's coveted IPO in 2013 and handling
its smooth market debut.
Goldman told employees in a May memo that Noto
was departing.
Noto will receive an annual salary of $250,000 and
one-time restricted stock options of 1.5 million
shares. As of Monday's close, those options were
valued at $61.5 million.
"I could not be more excited about joining the
@Twitter team & helping them reach every person in
the world," Noto tweeted after the announcement.
Twitter went public in November at $26 a share. The
stock rose to a high of $74.73 in December.
Shares rose as high as $42.95 on the New York Stock
Exchange on Tuesday before easing back to $42.71
by late morning.
