Ned is also has investment banking experience, having spent 16 years at Goldman Sachs. From this perspective, this hiring seems to be an indicative of authenticating the recent rumors about Twitter deciding to sell stakes. Anthony Noto, who joined Twitter as CFO in 2014 (also from Goldman), was promoted to COO last November after Adam Bain’s departure. He has been handling both roles in the interim.
The CFO role is critical for Twitter, as the social media company tries to convince investors that it has growing value. Although shares are up about 30% in the past three months, at $18.64 they are only a fraction of the $69 high the company saw in early 2014. The company’s market cap is currently less than $14 billion.
New CFO’s Pay Slip Size
According to the filing, Ned’s annual salary will be $500,000 and he’ll receive a $300,000 signing bonus if he agrees to stay for at least a year. In addition, he’s getting about 794,000 shares, which are presently worth close to $15 million. He also may get 372,000 more if Twitter reaches unspecified performance targets.
Segal, who had previously tweeted just 19 times, shared the news on the social media platform.