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Noto, who was likely involved in negotiating larger advertising commitments, is departing the firm." "It’s fair to question whether an advertising business recovery seems less likely now that Mr. "Twitter’s ad business has been declining year over year for several quarters but is expected to return to growth in early 2018 according to Street forecasts," he said.

"The optics of the departure are not good for Twitter at a time when investors have become increasingly optimistic about a turnaround," Stifel analyst John Egbert wrote in a research note. Kessler called Noto's departure "a significant loss." "We see Noto as Twitter's second most important employee, after CEO Jack Dorsey," CFRA analyst Scott Kessler wrote in a research note late Monday after word of Noto's departure leaked. It also deals another blow to a company whose executive team has been in flux - "no other C-level executive has been with the company for more than 2 years," Cowen analyst John Blackledge notes - and whose CEO Jack Dorsey splits his time between Twitter and Square, the digital payments company he founded.ĭorsey said Twitter had no plans to replace Noto, whose business operations and revenue-generating operations responsibilities would be assumed by other members of its leadership team. Noto's departure to Social Finance, known as SoFi, comes as Twitter's turnaround had begun to show hopeful signs, with shares buoyed by analyst upgrades and its October financial report.

Twitter's chief operating officer Anthony Noto, whose Wall Street experience reassured investors about the trajectory of a social media company struggling in the shadows of Facebook, is leaving to become CEO of online lender Social Finance.