Twitter Hires Ex Goldman Sachs Exec. Anthony Noto As CFO

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Twitter Hires Ex Goldman Sachs Exec. Anthony Noto As CFO
<a href="https://pixabay.com/users/geralt/">geralt</a> / Pixabay

Twitter Inc (NYSE:TWTR) hired Anthony Noto, a former executive at Goldman Sachs Group Inc (NYSE:GS) to serve as chief financial officer, according to its Form-8K filing with the Securities and Exchange Commission (SEC).

Noto replaces Mike Gupta

The regulatory filing indicated that the board of directors of Twitter Inc (NYSE:TWTR) appointed Noto to replace Mike Gupta, its current CFO who will assume the role of senior vice president of strategic investments within the next 30 days.

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Noto previously served as managing director of media and telecom investment banking group at Goldman Sachs Group Inc (NYSE:GS). Prior to that, he assumed various roles at the bank including internet media equity research analyst and head of the communication, media and entertainment equity research team. He also worked as CFO of the National Football league (NFL).

He holds a B.S. in Mechanical Engineering from the United States Military Academy and a M.B.A. from the Wharton School of the University of Pennsylvania.

Noto helped in Twitter’s IPO

Goldman Sachs Group Inc (NYSE:GS) was the lead underwriter for the initial public offering (IPO) of Twitter Inc (NYSE:TWTR) in November last year. At the time, Noto served as the main banker helping the popular microblogging company to go public.

Noto expressed excitement to join Twitter Inc (NYSE:TWTR) in a tweet posted this morning. According to him, “I could not be more excited to join the Twitter team and helping them reach every person in the world.”

He also tweeted that he would “miss the best TMT team in the world” and he is looking forward for the “continued success” of his former team at the bank.

Compensation package

Twitter Inc (NYSE:TWTR) indicated in the regulatory filing that Noto’s annual salary rate will be $250,000.  According to the company, he will receive a one-time stock award in the form of restricted stock units for 1,500,000 shares of its common stock, which will vest over four years.

Noto will also receive a one-time option grant to buy 500,000 shares of its common stock at an exercise price equal to the closing price of its shares on the date of grant and vesting over four years.

Twitter recently acquired TapCommerce

Yesterday, Twitter acquired TapCommerce, a mobile advertising startup that helps mobile businesses retarget their advertisements.

According to people familiar with the transaction, the microblogging company paid around $100 million to acquire TapCommerce.

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