Twitter’s C-suite continues to evolve following the resignation of Ali Rowghani as the chief operating officer (COO), with former Goldman Sachs banker, Anthony Noto being named the new chief financial officer (CFO).
Noto is replacing former CFO, Mike Gupta, who is moving into a senior vice president for strategic investments position. Since May, Noto has worked for Coatue Management LLC, a hedge-fund firm. Before that he was with Goldman Sachs as a managing director. He has also worked for the National Football League.
Noto will make $250,000 a year in his new role and get 1.5 million in stock. It will be a one-time award of shares vesting over four years. He also has a one-time grant offer of 500,000 shares.
Using Twitter isn’t new to Noto, who joined the social media site back in 2009. He has already tweeted his excitement about joining the company, writing that he is eager to help them “reach every person in the world.”
Personnel changes aren’t the only things changing at Twitter. They are also spending $100 million on the mobile ad start-up company, Tap Commerce. This is part of a larger mobile marketing effort that began in October when Twitter acquired another mobile-focused company, MoPub. That acquisition cost $350 million.
Acquiring TapCommerce may also fit well into Noto’s style of management. TapCommerce uses a lot of data collection and analytics in its mobile targeting and Noto has spoken out about the importance of CFO’s using data.
At New York’s TechCrunch in 2013, Noto said that CFO’s need to be able to tell companies when they are wrong and support the assertion with data.
“Today, I think a CFO needs to be more of an operating CFO, someone who’s using the financial data and the data of the company to help drive strategy, the allocation of capital and the management of risks,” he said at the conference.
Twitter shares increased by 4.5% as of 11:07 EST Tuesday morning. However, the stock is down 36% for 2014 so far.
