The microblogging site Twitter announced that its chief operating officer Adam Bain, was leaving the group. Adam Bain will be replaced by Anthony Noto, CFO since 2014, the company said, adding it would begin searching for a new CFO.
“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,” Bain said in a tweet. Adam Bain joined Twitter in 2010 and was appointed COO last year. Bain also added that Mr. Noto is a “trusted friend and collaborator in building out the business.”
Shares in the company, down 17% so far this year, lost another 2.5% in after hours trading to $18.65.
Twitter, which remains in deficit despite the success of its site, has launched search to find a buyer. But the company is struggling to find candidates for the redemption. Salesforce.com is the latest to have dropped Twitter, after Google and Walt Disney.