Twitter names former Goldman executive Noto as CFO

Tue Jul 1, 2014 4:36pm EDT
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By Supantha Mukherjee and Lehar Maan

(Reuters) - Twitter Inc (TWTR.N: Quote) named Anthony Noto as CFO, putting the well-regarded former Goldman Sachs (GS.N: Quote) 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 departed after clashing with Chief Executive Dick 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.

With Noto in the CFO seat, Twitter hopes to better explain its business opportunities to Wall Street, a person familiar with the matter said.

"Anthony has got a pretty good finger on the pulse of the Street," the person said.

A former Army ranger and National Football League executive, Noto, 46, 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. He was crowned the top-rated Internet analyst for five years in a row by Institutional Investor magazine in the mid-2000s.   Continued...

Anthony Noto speaks at the Reuters Media Summit in New York, November 28, 2007. REUTERS/Brendan Mcdermid