Twitter Inc (TWTR) appoints new CFO

Posted Jul 1, 2014

Twitter Inc (NYSE:TWTR) has announced that it has appointed a new CFO, who is a former Goldman Sachs Group banker named Anthony Noto. Noto took the company public in November.

This is the fourth major change under CEO Dick Costolo’s leadership. Other executives that departed include Twitter?s chief operating officer, head of engineering and vice president of consumer products. Twitter CEO Dick Costolo is facing a lot of pressure to improve the growth at the company due to a slowdown in new users. Twitter’s stock is down around 34% this year.

Noto left his position at Goldman Sachs to join a company Coatue Management. However, he never started the job there. Noto ended up joining Twitter today for a salary of $250,000 and a one-time stock award of 1.5 million RSUs vesting over 4 years. This is worth around $64 million based on today’s prices. Noto has not yet decided whether he will be moving from New York to Twitter’s HQ in San Francisco.

Mike Gupta was CFO and will stay at Twitter as the head of strategic investments.

[Source: Bloomberg]