Executive resigns to Twitter to be CEO of SoFi

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Anthony Noto has been named CEO of the financial services company, where he will be active as of March 1. Twitter shares fell 3% after news broke

Twitter operations director (COO) Anthony Noto resigned his position in the social network today to become the CEO of financial services company SoFi as of March 1.

Noto told Twitter on Monday that he would resign his position to accept the position of CEO in another company, which quickly became known as SoFi. The company confirmed the departure of Noto in a press release today, Tuesday morning.

As noted by the Business Insider news portal, Twitter shares fell 3% after the news.

“Anthony has been an incredible advocate for Twitter and a trusted partner for 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 impact, and congratulate him on his new role,” added Dorsey.

STEP FROM TWITTER TO SOFI

Noto joined Twitter as CFO in July 2014. He led the initial public offering of Twitter while serving as a banker at Goldman Sachs, and before that was CFO of the NFL for almost three years.

Noto served as CFO of Twitter until November 2016, when he assumed the position of COO of Adam Bain.

Noto will take over Tom Hutton, CEO of SoFi. Hutton was named interim CEO in September after SoFi co-founder Mike Cagney announced he would step down as CEO in the middle of an investigation into allegations of sexual harassment at SoFi.

“I thank the SoFi board for this extraordinary opportunity to lead one of the most important new companies at the intersection of technology and finance,” Noto said in SoFi’s statement on the news.

“SoFi has a great opportunity to take advantage of its leadership position in student and personal loans to revolutionize consumer finance and build a next-generation financial services company, and I’m excited to work with Tom and the rest of the SoFi team,” Noto concluded. .

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