Twitter hires Intuit's Ned Segal as chief financial officer

Twitter hires Intuit's Ned Segal as chief financial officer

SAN FRANCISCO: Twitter Inc said on Tuesday it had hired Ned Segal, senior vice president of finance at Intuit Inc , as its chief financial officer beginning in late August.

Anthony Noto, who has been serving as Twitter's chief financial officer and chief operating officer since November, will remain at the company as chief operating officer, Twitter said in a statement.

The appointment of Segal comes as investors are demonstrating renewed optimism in Twitter, which still lags rival social network Facebook Inc in terms of size and profitability.

Twitter shares rose 3 percent on Monday, before the announcement of Segal's hiring. The stock is up 32 percent since April 17, when it the low of the year at US$14.12.

In April, Twitter reported better-than-expected user growth in the first quarter of the year, partly related to heightened user interest in political news and comment.

Before joining Intuit, Segal was the CFO of RPX Corp , which helps companies manage patent risk, and earlier spent some 17 years at Goldman Sachs Group Inc , according to his LinkedIn profile.

Segal is entitled to receive a signing bonus of US$300,000 and his annual salary will be US$500,000, Twitter said in a securities filing. He will also be eligible to receive 1.2 million shares in the company, subject to conditions and vesting, according to the filing.

(Reporting by David Ingram; Editing by Bill Rigby)

Source: Reuters