Twitter replaces chief financial officer

July 1, 2014
The logo of social networking website Twitter is displayed on a computer screen in London, September 11, 2013

Twitter replaced its chief financial officer Tuesday with a former Goldman Sachs banker as the popular one-to-many messaging service reshuffled amid concerns about its ability to grow and prosper.

Anthony Noto, 46, will replace Mike Gupta, who will become a senior vice president of strategic investments, according to Twitter.

Noto's background includes being a managing director of technology, media and telecom investment banking at Goldman Sachs, which led Twitter's initial public offering of stock late last year.

Twitter made a spectacular Wall Street debut in November, rising from its $26 offering price to more than $70, but has been hurt by concerns about slowing growth and doubts on profitability.

The San Francisco-based company's shares were trading at $42.36 on Tuesday.

Noto's resume includes a stint as chief financial officer of the National Football League from May of 1999 to 2008.

Noto is joining Twitter just weeks after the resignation of chief operating officer Ali Rowghani and amid concern by investors that the service is not growing quickly enough.

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