Microblogging platform Twitter Inc has said Chief Operating Officer Adam Bain would leave the company to explore other opportunities. Twitter shares were down 4.3 percent in after-hours trading.
Bain will be replaced by Chief Financial Officer Anthony Noto, the company said, adding it would begin a search for a new CFO.
Noto, who became the finance chief in 2014, will continue to manage the live content business, and will manage Twitter’s global advertising sales, data and mobile ad exchange MoPub.
Bain joined Twitter in 2010 and was named COO in October last year.
The popular but money-losing microblogging service has spent aggressively on product development and marketing in recent years.
Twitter had hired bankers to field acquisition offers, but it has seen a dearth of potential bidders.
Salesforce.com Inc, the last of a small cohort of companies including Walt Disney Co and Alphabet Inc believed to have been interested, said recently it would not pursue a deal.
Bain will be replaced by Chief Financial Officer Anthony Noto, the company said, adding it would begin a search for a new CFO. Twitter shares were down 4.3 per cent in after-hours trading.