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July 1 Twitter Inc named Anthony Noto
as CFO, putting a former Goldman Sachs executive who led
its IPO last year in charge of its finances.
Twitter shares rose as much as 4.8 percent after the
company's second management shake-up in three weeks saw the
previous CFO, Mike Gupta, named senior vice president of
Both 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 regulatory 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's experience as CFO at the NFL will help Twitter gain
more ground in television and advertising," Hudson Square
analyst Daniel Ernst said.
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.
"I think he just brings a different skill set. A set that
really has very high level view of the competitve landscape, he
understands very well what the investment community is looking
for given his previous role," Macquarie Research analyst Ben
Twitter went public in November at $26 a share. The stock
rose to a high of $74.73 in December.
Its shares rose as high as $42.95 on the New York Stock
Exchange on Tuesday before easing back to $42.71 by late
Last month, Twitter's 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 Dick Costolo over whether he should continue to
oversee product innovation.
(Reporting by Supantha Mukherjee and Lehar Maan in Bangalore;
Editing by Joyjeet Das and Don Sebastian)