Twitter hires banker Anthony Noto as new CFO

Former finance chief Gupta to lead strategic investments

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Twitter hires banker Anthony Noto as new CFO Noto will receive an annual salary of $250,000 plus 1.5 million in restricted stock units.
By  Helen Gaskell Published  July 2, 2014

Twitter has hired former investment banker Anthony Noto from Goldman Sachs as its new CFO, the Wall Street Journal reported.

Noto will replace Mike Gupta, who as chief financial officer worked closely with his successor as they prepped for Twitter's initial public offering just eight months ago. Gupta will become senior vice president of strategic investments at Twitter, a new group that will likely be responsible for outside investments the way Google Ventures operates at Google Inc.

In a tweet, Gupta thanked Costolo and said he was "thrilled" to start his new role and having Noto on the team.

Noto will receive an annual salary of $250,000 plus 1.5 million in restricted stock units, currently valued at about $63m that vest over four years. He will also receive a one-time grant to buy 500,000 shares, valued at about $21m.

In May Noto said he would leave Goldman Sachs, where he ran the global technology, media and telecom group since 2011, to join New York-based hedge fund Coatue Management LLC.

He was expected to start at the $9bn tech-focused fund this week, according to people familiar with the matter. Instead, Tuesday was his first day at Twitter.

The change comes just weeks after one of Twitter's top executives, Ali Rowghani, stepped down as operating chief following a reported dispute with Costolo over the company's future, this was followed by Twitter's longtime head of North American media, Chloe Sladden announcing her departure on the same day.

In recent months, Twitter has also recruited a new vice president of product and replaced its head of engineering.

According to the WSJ, Investors have viewed these moves favourably, sending Twitter's shares up 2.6% on Tuesday and 30% in the past month. But at $42.05, the stock is still down 34% this year and below Twitter's first trading close of $44.90 on 7 Nov.

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