SoFi Names Anthony Noto Chief Executive Officer

Oscar Cross
January 24, 2018

TechCrunch reports that Anthony Noto has resigned from his position as Chief Operating Officer of Twitter. At least in the short term, existing members of its leadership team are expected to take on Noto's responsibilities for business operations and revenue generating operations. Shares of Twitter Inc. slid nearly 3 percent at the opening bell Tuesday.

Meanwhile, Matt Derella, Twitter's vice president of global revenue and operations, will continue to lead the company's ad sales efforts.

Twitter Chief Operating Officer Anthony Noto has resigned to become the chief executive officer of Social Finance, a departure that has some analysts and investors anxious about the tech firm's future.

CEO Jack Dorsey tweeted that he was sad to see Noto go.

Analysts attribute much of Twitter's recent product direction and positive momentum to Noto, who has been the day-to-day leader at the company.

Hutton will become non-executive chairman on March 1, when Noto takes on his new role.

Dorsey tweeted that Noto has been a "friend, partner and mentor" to him for years and thanked him for his time at the company. He helped Twitter win the rights to stream Thursday Night Football games in 2016, but the company was outbid by Amazon for the 2017 season.

"His departure is clearly not an endorsement of Twitter's immediate prospects", Cakmak told CNNMoney. San Francisco-based SoFi, one of the most valuable fin-tech startups, lost its co-founder and CEO, Mike Cagney, last fall amid company turmoil, including allegations of sexual harassment and fraudulent actions by managers.

"I am immensely proud of our team and the key milestones we achieved during my time at the company". The company moved closer to that goal previous year, but it continued to face a string of departures from key executives.

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