Twitter just announced that Chief Operating Officer Adam Bain is departing.
Bain has been with Twitter since 2010, building the company’s ad business and becoming COO last year at the same time that founder Jack Dorsey was named CEO. Bain tweeted that he’s now “ready to change gears and do something new outside the company,” while adding, “I look at what we’ve built together and how far we’ve come, and I feel like I can leave the company now in a place of strength.”
He didn’t say what he’s doing next.
I’m excited to take w me everything I’ve experienced at Twitter & do something totally different and new outside the company. Stay tuned!
— adam bain (@adambain) November 9, 2016
Anthony Noto, currently Twitter’s chief financial officer, will replace Bain as COO, according to a regulatory filing. Noto will continue to serve as CFO, as well, until the company finds someone new for the role.
This shift comes at a tumultuous time for Twitter, with the company laying off 9 percent of its workforce last month after failing to find an acquirer. Twitter stock actually popped this morning following a surge of user activity during the election of Donald Trump, though as I write this, it’s down 3 percent in after-hours trading.