Market Overview

Twitter Shares Gaping Higher On Executive Change

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Twitter (NYSE: TWTR) shares are rising Tuesday after the company announced Anthony Noto as its new CFO.

Before taking his role at Twitter, Noto served as a managing director for Goldman Sachs and from 2008 to 2010 was the CFO of the National Football League. The previous CFO, Mike Gupta, will take the role of SVP of Strategic Investments.

Related: Twitter Eliminates Top Executive Position

Noto will be compensated with a 1.5 million share one-time stock allotment (worth about $6.3 million), a 500,000 share option grant and $250,000 annual salary.

This announcement comes a little more than two weeks after Twitter announced the resignation of COO Ali Rowghani and stated that the company will not be replacing the role.

Shares of Twitter were last up 4.04 percent to $42.66 shortly after Tuesday’s open.

Posted-In: Anthony Noto Mike Gupta National Foootball LeagueNews Management Hot

 

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