Noto's departure to Social Finance, known as SoFi, comes as Twitter's turnaround had begun to show hopeful signs, with shares buoyed by analyst upgrades and its October financial report. Before his role as COO at Twitter, he also served as CFO. Vice President of Global Revenue and Operations Matt Derella will continue leading Twitter's ad sales.
Twitter Chief Operating Officer Anthony Noto has resigned to become the chief executive officer of Social Finance, a departure that has some analysts and investors anxious about the tech firm's future.
"Anthony has been an incredible advocate for Twitter and a trusted partner to me and our leadership team", said Twitter CEO Jack Dorsey.
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Twitter said on Tuesday that other employees would assume Mr. Noto's responsibilities w while it looked for a replacement. Before Twitter, Noto served for nearly four years as co-head of global TMT investment banking at Goldman Sachs where he was named partner in 2004, and served as the head of communications media and Internet equity research. He helped take Twitter public and became COO in 2016.
Twitter COO Anthony Noto is leaving the company, Twitter said Tuesday.
"His departure is clearly not an endorsement of Twitter's immediate prospects", Cakmak told CNNMoney.
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Tom Hutton, an investor in SoFi who had served as interim CEO, said Noto's experience made him the flawless fit.
Noto is taking over at SoFi at a time of some uncertainty, following the recent departure of co-founder and CEO Mike Cagney amid sexual harassment allegations and other problems at the online bank.
Noto joins SoFi at a crucial time.
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"I'm grateful to the SoFi board for this extraordinary opportunity to lead one of the most important new companies at the intersection of technology and finance", Noto said in a statement.