Social media platform Twitter has said chief operating officer Adam Bain will leave the company, with chief financial officer Anthony Noto set to replace him in the role.
The New York Times said the move represents the most significant shake-up of senior management since Jack Dorsey was appointed chief executive of Twitter in October 2015. The newspaper added that many of Bain’s duties and staff under his purview, including those who manage advertising sales and partnerships with media companies, will now be handled by Noto, who will combine the two roles until a new CFO is hired.
Bain (pictured) joined Twitter in August 2010 and was said to be a top candidate for the chief executive’s position before Dorsey secured the role. The Times said Bain will not join a rival company like Facebook and is instead likely to pursue opportunities outside the advertising industry.
Bain’s departure comes as Twitter last month said it would cut 350 jobs, or about nine per cent of its work force, as part of an attempt to speed up an effort to reach profitability in 2017. Many of the cuts focused on restructuring Twitter’s sales and marketing efforts, which were under Bain.
Noto became Twitter’s CFO two years ago and is said to have played a key role in the company’s focus on live streaming video, including its partnership with American football league the NFL. The NFL in April selected Twitter as its exclusive partner to deliver a live over-the-top digital stream of Thursday Night Football games to a global audience across all devices during the course of the 2016 regular season.