Shares of Twitter slid on Tuesday morning after the online lending startup SoFi announced that Anthony Noto, Twitter’s chief operating officer, will be joining the company as its new CEO, effective March 1.
Twitter has suffered from several departures of key executives in the past two years as the company struggles to bring value to shareholders.
Noto was key to driving Twitter’s live video push and inking partnerships with NFL, Time, and Bloomberg.
Investors have been concerned over the company’s slow user growth and many management changes.
Twitter’s stock fell 3.52% to $22.50 a share. It was down 8.18% for the year.
about why one of Wall Street’s biggest banks is optimistic about Twitter.
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Source:: Businessinsider – Technology