Twitter COO Anthony Noto Steps Down

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Noto will become CEO of financial startup SoFi.

Top Twitter executive Anthony Noto has stepped down from his post as he prepares to become CEO at online lender SoFi

Twitter disclosed early Tuesday morning that its COO had resigned, explaining that Noto would be leaving for another role. SoFi followed with an announcement of its own.

At Twitter, Noto has led business and revenue operations since 2016. He first joined the company in 2014 as CFO and helped to shepherd it through the IPO process. Noto, who previously served as CFO of the NFL, was also instrumental in Twitter's live video effort and helped the company ink a deal to carry Thursday Night Football games live on its platform.

"On January 22, 2018, Anthony Noto notified Twitter Inc. that he is resigning from his position as the Chief Operating Officer of Twitter, effective as of an agreed-upon date prior to March 1, 2018," the company said in a regulatory filing. "Twitter is grateful to Mr. Noto for his nearly four years of service and wishes him the best in his future endeavors."  

"Anthony has been an incredible advocate for Twitter and a trusted partner to me and our leadership team," said Twitter CEO Jack Dorsey. "On behalf of the entire team, I want to thank Anthony for his passion and his impact, and congratulate him on his new role."

The news comes one day after reports surfaced that Noto had been offered the top post at SoFi, a San Francisco financial startup that saw the departure of its CEO in September following reports of its improper workplace culture. Noto will start in his new role at SoFi on March 1, replacing interim CEO Tom Hutton.

"Working at Twitter has been a once-in-a-lifetime opportunity, and I am immensely proud of our team and key milestones we achieved during my time at the company," Noto said. "It has been an honor to work alongside Jack and contribute to the success of one of the most impactful platforms in the world. While it's bittersweet to depart, I have the utmost confidence in Twitter's future and look forward to watching the wonderful success the team will continue to achieve." 

Since its IPO, Twitter had struggled to maintain its growth trajectory and operate profitably. The company's shares were trading down more than 3 percent early Tuesday morning on the news of Noto's departure.