Twitter's operating chief, Anthony Noto is leaving to become head of online lender Social Finance Inc., dealing a blow to Twitter’s strategy for growth and raising questions about who will run day-to-day operations inthe company.
Noto will take over the top spot at SoFi on March 1, 2018. At that time, board member Tom Hutton, who has been serving as interim CEO since SoFi co-founder Mike Cagney resigned from the financial-technology startup in September, will become its nonexecutive chairman.
Noto’s departure will leave a void at Twitter. Its chief, Jack Dorsey splits his time between the social-media company and Square Inc., the payments company he founded. Shares of Twitter fell 2.5% in morning trading.
“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.