Twitter has been fighting for its survival for quite some time. It does not seem to figure out how to increase its revenue and users. The possible acquisition of the company also did not push through. To add to its financial woes, Twitter has recently decided to shut down Vine. This is much to the dismay of many avid Vine users.
Now, the social media platform lost one of its executives. It only paints more uncertainty to Twitter's future.
Another New Chief Operating Officer For Twitter
Twitter has been dealing with a number of issues. A leadership shake-up within the company is not a surprise. However, the resignation of its former Chief Operating Officer Adam Bain only proves how the tech company is still struggling. According to The New York Times, Bain is actually well liked by Wall Street.
This might have something to do with Bain's role in growing Twitter's once thriving advertising business.
According to the Security Exchange Commission, Twitter has appointed their current Chief Financial Officer Anthony Noto to fill in the COO position left by Bain. The company stated that Noto will lead the live content business. Furthermore, he will also assume responsibility for Twitter's revenue-generating organizations, including global advertising sales, data, revenue product and MoPub.
He will also work on global partnerships and business development. Twitter has yet to find someone who will fill the CFO position. Until then, Noto will still serve as the CFO.
Not The First Time For A COO To Resign
The current managing partner of the Y Combinator Ali Rowghani was previously a COO of the Twitter. He entered the company in 2008 as a CFO. Rowghani left Twitter back in 2014.
As for the case of Bain, he announced his resignation on Nov. 7. The press release mentioned that Bain will still be on Twitter to assist with the transition of role to Noto. He said in a statement that his six years working in for Twitter have been incredible. Bain added that he is inspired of what the company has become and will be in the future.
It seems that there is no bad blood between Bain and Noto. He cleared out that he has full faith in what Noto and his teams will accomplish. The two had worked together since 2014.
What Does It Mean For Twitter?
The future seems to be bleaker for Twitter. It remains to be seen if the change in the management is actually an advantage. There are a lot of things that Twitter has to resolve. So far, what they had been doing were ineffective.