Twitter replaces CFO with former Goldman Sachs director
Current Chief Financial Officer Mike Gupta will assume a new role, while Anthony Noto, who helped lead Twitter's IPO, will become the new finance chief.
Twitter continues to tweak the ranks of upper management.
In its latest move, the microblogging site will replace current Chief Financial Officer Mike Gupta with former Goldman Sachs director Anthony Noto within the next 30 days, according to a document updated Tuesday with the Securities and Exchange Commission. Gupta will remain with Twitter to assume the job of senior vice president for strategic investments, also to take effect within the next 30 days.
This shift is just the latest move in the ranks of upper management at Twitter. Last month, chief operating officer Ali Rowghani resigned his role but promised to stay on as a strategic adviser to the CEO. Rather than appoint a new COO, Twitter tapped two other executives to assume Rowghani's duties.
Gupta and Rowghani had taken on their COO and CFO roles at the same time in late 2012.
What does the new CFO bring to the table?
Noto has a history with media companies, having previously worked at Goldman Sachs as a managing director in the technology, media, and telecom investment banking group. Earlier in his career, he served in other roles at Goldman Sachs, including that of an analyst in the area of Internet and media equity research and as head of the communication, media, and entertainment equity research team.
Further, Noto played a major role in winning Internet-based initial public offerings for Goldman, the Wall Street Journal said. He headed the team that worked with Twitter to handle its IPO, thwarting rival Morgan Stanley, the Journal said, citing people familiar with the deal. Twitter's IPO went down smoothly in marked contrast to Facebook's more chaotic offering, which was orchestrated by Morgan Stanley, the Journal noted.
And what of Gupta? The soon-to-be senior vice president for strategic investments took to Twitter to say he's thrilled to start his new role and looking forward to having Noto on the team.
Despite its smooth IPO, Twitter's stock has fallen throughout most of 2014, while concerns have surfaced that user growth rates have declined.