Twitter is hiring a Goldman Sachs executive as its new chief financial officer, continuing a shake-up that has led to the departures of several executives in recent months, according to Reuters.
The social media company said in a regulatory filing Tuesday that it hired Anthony Noto, 46, to replace current CFO Mike Gupta, who steered Twitter through its initial public offering in 2013, Reuters reported. Gupta will stay on at Twitter, taking on the role of senior vice president for strategic investments.
In the new role, Noto will earn an annual salary of $250,000 and be granted a one-time stock award of 1.5 million shares vesting over four years. He'll also get a grant to buy 500,000 additional shares, according to Reuters.
Noto was previously a managing director in Goldman's technology, media and telecom investment banking group, where he led Twitter's IPO process, according to Reuters. Before that, he served as CFO of the National Football League.
The CFO switch follows the resignation of Twitter's chief operating officer, Ali Rowghani, earlier this month, Reuters reported. Rowghani won't be replaced because CEO Dick Costolo is seeking more direct involvement with the San Francisco company's engineering and product teams.
Christopher Fry, Twitter's senior vice president of engineering resigned in late May, according to Reuters. He was replaced by Alexander Roetter, who'd been Twitter's vice president of engineering.
The executive shake-ups come as Twitter is facing pressure from investors to increase its user base and how much people use its service, Reuters reported.
Hudson Square analyst Daniel Ernst said Noto's experience as CFO at the NFL should help Twitter gain more ground in television and advertising, according to Reuters.
"He just brings a different skill set. A set that really has very high level view of the competitive landscape, he understands very well what the investment community is looking for given his previous role," Macquarie Research analyst Ben Schachter said, Reuters reported.
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, according to Reuters. Chloe Sladden, vice president of media, also departed recently.
