Twitter’s chief operating officer, Anthony Noto, has resigned to become the CEO of the financial services startup SoFi.
Noto will begin his responsibilities leading SoFi on March 1st, but the move is likely to cause some fallout for the imperilled microblogging site.
Twitter confirmed Noto’s departure in a news release Tuesday morning. Twitter stock was down about 3% after the news broke.
“Anthony has been an incredible advocate for Twitter and a trusted partner to me and our leadership team,” Twitter CEO Jack Dorsey said in a statement. “On behalf of the entire team, I want to thank Anthony for his passion and his impact, and congratulate him on his new role.”
Prior to joining Twitter, Noto acted as a managing director of Goldman Sachs, and also as CFO of the NFL. He jointed Twitter in 2014 under then-CEO Dick Costolo, and has been cited as one of Twitter’s most important executives by many company observers.
Last year, SoFi abandoned its previous CEO, Mike Cagney, as he was pushed out following sexual harassment allegations. Noto will take over leadership of the load refinancing startup from interim CEO Tom Hutton when he starts in March.
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