Twitter’s COO, Adam Bain, is stepping down from his role at the struggling social media company. Like it or not, that is the word which describes Twitter’s current status in the market – struggling.
Bain is said to be leaving Twitter to “explore opportunities outside the company” and will be replaced by CFO Anthony Noto. At one point Bain was tipped to be Twitter’s CEO and he leaves at a time where Twitter is facing mounting pressing from investors to increase revenue.
Dorsey is split between Twitter and Square which means Noto’s responsibilities just got a whole lot bigger. Noto will take over the company’s revenue generating products and business partnerships and a replacement will be sought for his role.
Bain notified Twitter of his decision to leave on November 7th after being with the company for 6 years. He will get no severance pay as he is leaving of his own accord and has agreed not to work for competitors such as Facebook.
Noto has spearheaded the push towards live content and live video of sporting events such as the NFL Thursday Night Football streams. As we know, Twitter is stuck in the mud and has been unable to find a buyer to help them with their problems.
Anyone who buys Twitter will also inherit the problems that come along with it from abuse to trolls and harassment. Noto’s task will either be to prove he can revitalise the company or find someone to buy it.
With Twitter facing such problems, any news like this up at a corporate level is significant as it can affect the daily running of how the company operates. Bain is a big loss for Twitter as he has been credited with building Twitter’s entire multi-billion dollar advertising business.
He is also very much a liked personality inside the company. He will remain at the company for a number of weeks to allow for a smooth transition of his job responsibilities to Noto.
Bain’s division was hit hard in the most recent round of Twitter layoffs and it is reported that he will take some time off before pursuing a new project. Twitter’s fortunes are unlikely to get substantially better with Noto in the hot seat and as before they are still search for a solution to the ongoing problems they are facing as a business.