Published On: Wed, Jul 12th, 2017

Twitter’s new CFO is removing $15 million in stock

Twitter has announced that it’s hired a new CFO. Ned Segal is fasten a association from Intuit, where he was comparison clamp boss of finance.

He also has investment banking experience, carrying spent 16 years during Goldman Sachs. This could come in accessible if Twitter decides to sell themselves. (Just saying!)

Anthony Noto, who assimilated Twitter as CFO in 2014 (also from Goldman), was promoted to COO final Nov after Adam Bain’s departure. He has been doing both roles in a interim.

The CFO purpose is vicious for Twitter, as a amicable media association tries to remonstrate investors that it has flourishing value. Although shares are adult about 30 percent in a past 3 months, during $18.64 they are usually a fragment of a $69 high a association saw in early 2014. The company’s marketplace top is now reduction than $14 billion.

Twitter is betting large that Segal is a male for a job. According to a filing, his annual income will be $500,000 and he’ll accept a $300,000 signing reward if he agrees to stay for during slightest a year. Oh, and he’s removing about 794,000 shares, that are presently value tighten to $15 million. He also might get 372,000 some-more if Twitter reaches vague opening targets.

Twitter, that is also focused on user growth, is not nonetheless profitable. 

Segal, who had formerly tweeted only 19 times, common a news on a amicable media platform.

Featured Image: Bryce Durbin/TechCrunch

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