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News Recap: Twitter, Inc. (NYSE: TWTR)

Twitter, Inc. (NYSE: TWTR) recently declared the appointment of Ned Segal as Chief Financial Officer (CFO), effective in late August. Mr. Segal will assume the CFO role from Anthony Noto, Twitter’s Chief Operating Officer and Chief Financial Officer. Mr. Noto will continue to serve as Twitter’s Chief Operating Officer, the position he assumed in November 2016.
Mr. Segal brings to Twitter more than 20 years of finance and capital markets experience, an extensive background in financial planning and operations, administration and strategy, and a deep knowledge of the technology industry. He most recently served as Senior Vice President of Finance for the Small Business Group at Intuit Inc., where he led financial and planned planning for the company’s $2.5 billion division that delivers QuickBooks, Payments and Payroll to millions of customers. Before his role at Intuit, Mr. Segal served as CFO of RPX Corporation, a public patent risk administration solutions company, and for many years at Goldman Sachs in numerous roles around the technology capital markets, most recently as Managing Director and Head of Global Software Investment Banking. Mr. Segal began his career at Goldman Sachs in Equity Research Sales, where he focused on technology companies and worked with many of the most renowned technology shareholders.
“Ned’s experience in financial operations as a public company and business unit CFO, together with his background serving technology companies and shareholders, are an ideal fit for Twitter as we work to extend our positive momentum, continue growing our audience and achieve greater operating efficiency,” said Jack Dorsey, Chief Executive Officer of Twitter. “He brings a principled, engaging and rigorous approach to the CFO role, with a track record of driving profitable growth.”
“I’ve long admired Twitter’s impact in the world, and I’m committed to assisting the Company build on its recent momentum, allocate resources against its greatest priorities, and continue toward its aim of GAAP profitability and beyond,” said Mr. Segal. “Twitter has a talented administration team, an exclusive purpose and tremendous potential. I look forward to putting my background and skills to work to assist the Company achieve greater results for our employees and shareholders.”
As CFO, Mr. Segal will report directly to Mr. Dorsey and will oversee Twitter’s finance, accounting, corporate development, corporate security, financial planning & analysis (FP&A), shareholder relations, real estate & workplace, internal audit, tax and treasury areas of the business.
The Company noted that Mr. Segal’s appointment as CFO is unrelated to financial expectations offered in its Q1’17 shareholder letter issued on April 26, 2017. Twitter will release financial results for the second quarter of 2017 on July 27, 2017, before the market open at about 4:00 a.m. Pacific Time (7:00 a.m. Eastern Time). On the same day, Twitter will host a conference call to discuss these financial results at 5:00 a.m. Pacific Time (8:00 a.m. Eastern Time). To listen to a live audio webcast, please visit the company’s Shareholder Relations page at shareholder.twitterinc.com.

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