Twitter recently filled a key managerial position that has been vacant since late 2016. Ned Segal will take on the role of Chief Financial Officer.
Segal was most recently the senior vice president of finance at Intuit. He will be taking over the role from Anthony Noto. Noto is the current COO and was also the interim CFO for the company. Segal comes with a ton of Wall Street experience, but not so much in the advertising and media industry, which drives Twitter’s entire business.
Segal’s appointment is pretty noteworthy, given that CEO Jack Dorsey is still running multiple public companies. Noto, too, was holding down two jobs. Twitter recently hired a new head of inclusion and diversity. The position of head of human resources still remains vacant. Segal will join Twitter beginning in late August.
According to sources, Segal will receive an annual salary of $500,000, a signing bonus of $300,000 and a stock package of nearly 800,000 shares of Twitter stock vesting over four years, which is worth nearly $15 million.
Twitter has also been consistently unprofitable, losing a cumulative $2 billion ever since it went public. At a time when operations are low and investor faith is shaking, expectations from Segal are pretty high. It would be interesting to watch how he changes the company’s monetary, business, and working policies and what new ideas he comes up with to at least break even.
Megha Shah for TechFunnel