Twitter’s COO Adam Bain is leaving the company, a surprising move given the company’s confusing attempts to find a buyer in recent months.
Twitter’s CFO Anthony Noto has a busy job, keeping an eye on all of the money coming in and out of the company – the latter probably being the more time consuming of the two.
However, his workload looks set to double after the company revealed Adam Bain, its COO, is leaving the company, with Noto taking on his job.
The CFO position is now up for grabs but, until then, one would assume Noto is in for a busy spell.
“The past six years have been incredible, and I’m inspired by what Twitter has become and what it will be in the future,” Bain said in a statement.
“[Noto] and I have worked side by side since he joined Twitter in July 2014 and I have full faith in what he and the teams will accomplish in the future.”
The timing is curious. Twitter’s CEO, Jack Dorsey, is currently leading a push to finally bring in profit next year. If certain reports are to be believed, he is battling with his executives to not sell the company.
Bloomberg recently reported that Dorsey’s control is slipping at the company. While he wants the company to remain independent, co-founder Evan Williams wants to sell.
That cleavage emerged just as Noto apparently stepped in to seize more control of the company “amid Dorsey’s passive leadership”.
Is Noto the new leader of a waning ship?
The company’s growth has stalled, down to 8pc in its latest filings (a year previous it was growing at 58pc), with its $616m Q3 earnings not enough to save 9pc of its global workforce.
Recently completing his sixth year at the company, Bain is well liked at Twitter – though his leaving and Noto’s shift marks an incredible two years for the latter.
Noto joined Twitter in 2014 and has climbed the ladder fast. According to the New York Times, it was Noto who drove some of the company’s more interesting moves in recent months, notably Twitter’s shift into the live streaming industry, including its new partnership with the NFL to stream games.
After 6 years and a once-in-a-lifetime run, I let Jack know that I am ready to change gears and do something new outside the company.
— adam bain (@adambain) November 9, 2016