Twitter Inc (NYSE:TWTR)’s top management is getting shuffled a lot and since Ali Rowghani left things have seemed to move very fast in the company. Mike Gupta, CFO of Twitter Inc (NYSE:TWTR) was another person in focus due to the performance of the company on the financial market.
Kara Swisher was on CNBC recently and she was uncovered the story behind the story of new CFO at Twitter Inc (NYSE:TWTR). She mentioned how Gupta’s role was in a swirl with the stock going down around 30% this year. Swisher mentioned, probably that is why the board decided to assign him to a new role in strategic investment. Anthony Noto would be the new CFO and he would replace Ali Rowghani.
“They brought in the guy who actually took them public at Goldman Sachs, Anthony Noto , a very well respected Wall Street figure and someone who knows the company well and also has great relationships with Wall Street.” Swisher said about the push for the new CFO.
Swisher said the main problem Twitter Inc (NYSE:TWTR) had was the plan for growth on Wall Street. According to her advertising was never a problem for the company and it was the relationship with the investors that hurt Twitter Inc (NYSE:TWTR) the most. She feels that Noto would be able to take care of that part pretty well. However the key question is how does Twitter Inc (NYSE:TWTR) grow with all the competition they have in the social media space. This might be achieved with partnerships with Twitter Inc (NYSE:TWTR) integrating with larger partners or probably if someone could buy the company.
Evan Wilson of Pacific Crest Securities analyst, was on CNBC earlier yesterday and he thinks that the CFO roles at Twitter Inc (NYSE:TWTR) has never been a strong one and Noto has an opportunity there because he understands what the investors want, knows how to deal with the sell side and his CFO experience at NFL would definitely come handy in his new role. He also said that the company needs gelling at the executive ranks as there has been a lot of shuffling going around.
Wilson mentioned that there might not be a major change in the m&a strategy of Twitter Inc (NYSE:TWTR) with the appointment of the new CFO. However since he is a specialist in the buy side, there might a shift.
“The amount of change that we’ve seen in the recent history isn’t a surprise for the folks that are following the company closely.” , Wilson stated.