Dive Brief:
- Anthony Noto’s stock is rising within Twitter as he assumes Adam Bain’s COO post while leaving the CFO spot — as previously reported — and gaining increasing responsibility according to reporting by Recode.
- As COO Noto will handle all of Twitter’s revenue-generating business including ad sales, partnerships and business development as well as heading up the pivotal live streaming video push at the social media company. In the meantime, co-founder Jack Dorsey continues to a part-time CEO for the company.
- Noto’s has a Goldman background giving him clout with Wall Street, and he once served as CFO for the National Football League and is seen as a key reason why Twitter won the live streaming video stakes for 10 NFL Thursday Night Football games this year.
Dive Insight:
The Recode report went as far as to speculate that Noto’s importance for Twitter’s future might even outsize CEO Jack Dorsey’s impact. It also cited SEC documents showing Noto is set to earn around $12 million per year over the next four years. The new COO likely has the most day-to-day influence over Twitter given the scope of his position and the fact that Dorsey has remained at the helm of Square during his entire time back with Twitter beginning late last year.
Live streaming video could very well be the make-or-break moment for Twitter in a year that’s seen stagnant user growth, ongoing issues with disgruntled investors and unimpressed analysts. The site has even lost its spot among the top social media platforms to Snapchat which has raced past Twitter in user base and appeal to younger demographics. Twitter’s low point this year came when it looked poised for acquisition only to see all of its suitors drop out within days of each other.
Just how important Noto role's at Twitter depends on whether or not the company's days of significant user growth are behind it, which many believe is the case. If this is true, than Noto, who has reputation for getting projects done, becomes more important than Dorsey, who is known as a product innovator.
