SAN FRANCISCO: Twitter Inc on Tuesday hired Ned Segal, senior vice president of finance at Intuit Inc and a former managing director at Goldman Sachs Group Inc, as its chief financial officer beginning in late August.
Anthony Noto, who has been serving as Twitter's CFO and chief operating officer since November, will remain at the company as COO, Twitter said in a statement.
The appointment of Segal, 43, comes as investors are demonstrating renewed optimism in Twitter, which still lags rival social network Facebook Inc in terms of size and profitability.
In April, Twitter reported better-than-expected user growth in the first quarter of the year, partly related to heightened user interest in political news and comment.
From 2009 to 2013, Segal was a Goldman managing director and head of its global software investment banking unit, advising tech companies on mergers, acquisitions and initial public offerings, Twitter said.
"He brings a principled, engaging and rigorous approach to the CFO role, with a track record of driving profitable growth," Dorsey said in a statement.
Segal is entitled to receive a signing bonus of $300,000 and his annual salary will be $500,000, Twitter said in a securities filing. He will also be eligible to receive 1.2 million shares in the company, subject to conditions and vesting, according to the filing.
Anthony Noto, who has been serving as Twitter's CFO and chief operating officer since November, will remain at the company as COO, Twitter said in a statement.
The appointment of Segal, 43, comes as investors are demonstrating renewed optimism in Twitter, which still lags rival social network Facebook Inc in terms of size and profitability.
In April, Twitter reported better-than-expected user growth in the first quarter of the year, partly related to heightened user interest in political news and comment.
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From 2009 to 2013, Segal was a Goldman managing director and head of its global software investment banking unit, advising tech companies on mergers, acquisitions and initial public offerings, Twitter said.
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"He brings a principled, engaging and rigorous approach to the CFO role, with a track record of driving profitable growth," Dorsey said in a statement.
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Segal is entitled to receive a signing bonus of $300,000 and his annual salary will be $500,000, Twitter said in a securities filing. He will also be eligible to receive 1.2 million shares in the company, subject to conditions and vesting, according to the filing.
© Thomson Reuters 2017
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