Twitter Hires Former Goldman Sachs and Intuit Executive Ned Segal as CFO
2017年7月12日 - 7:06AM
Dow Jones News
By Georgia Wells
Twitter Inc. tapped a former close colleague of No. 2 executive
Anthony Noto to be its new finance chief, a step toward filling a
list of vacancies created at the social-messaging company over the
past year.
Ned Segal will start as Twitter's chief financial officer in
late August, the company said Tuesday. He comes most recently from
financial-software producer Intuit Inc., where he was senior vice
president of finance for the $2.5 billion division that delivers
QuickBooks to customers. Before that he served as CFO of RPX Corp.,
a small San Francisco-based company that helps clients manage
patent-related risks.
Prior to that, Mr. Segal spent nearly 17 years at Goldman Sachs
Group Inc., where he worked closely with Mr. Noto, whom he will
replace as CFO. Mr. Noto has held two jobs at Twitter since
becoming its COO last November following the departure of longtime
executive Adam Bain. Mr. Noto now will act solely as COO, the
company said.
Bringing in a former colleague to fill a key role could help
solidify Mr. Noto's influence. He has taken on increasing
responsibility since joining Twitter three years ago, after stints
including head of technology, media and telecom investment banking
at Goldman and as CFO of the National Football League.
Twitter said its entire management team participated in the CFO
search process, meeting with several candidates, and that Chief
Executive Jack Dorsey made the final decision.
Mr. Segal "brings a principled, engaging and rigorous approach
to the CFO role, with a track record of driving profitable growth,"
Mr. Dorsey said in a statement.
Twitter has struggled for years to translate its popularity into
profit. For the first quarter of this year it reported declining
revenue for the first time since its initial public offering in
2013, despite a series of turnaround measures announced after Mr.
Dorsey, a co-founder, returned as CEO in late 2015.
More than a dozen executives and leaders have left Twitter in
the past 12 months, including Chief Technologist Adam Messinger,
Vice President of Product Josh McFarland and Vice President of
Finance Celia Poon.
In May, Mr. Dorsey's co-founder, Biz Stone, said he was
rejoining Twitter to focus on its culture and work on conveying
elements of Twitter's culture externally.
Mr. Segal's annual salary will be $500,000, and he will receive
about 795,000 shares of Twitter's stock, in addition to more shares
if the company meets certain metrics, Twitter said in a filing.
Twitter's stock, which ended trading Tuesday up 3.1%, was flat
after hours following the announcement.
The shares have gained ground this year, but remain at less than
a third of their peak value shortly after their IPO.
Write to Georgia Wells at Georgia.Wells@wsj.com
(END) Dow Jones Newswires
July 11, 2017 17:51 ET (21:51 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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