Twitter has hired Ned Segal, most recently a senior finance executive at Intuit and previously an investment banker at Goldman Sachs, as its chief financial officer effective late August 2017.
Segal, 43, will start in late August, reporting directly to Twitter CEO Jack Dorsey. He will take over the CFO role from Anthony Noto, who is currently Twitter’s chief operating officer and CFO.
At Intuit, Segal was senior VP of finance for the Small Business Group, leading financial and strategic planning for the company’s $2.5 billion division that includes QuickBooks, Payments and Payroll to several million customers. Prior to Intuit, Segal was CFO of RPX Corporation, a publicly traded patent-risk management solutions company, and held various positions at Goldman Sachs from 1996 to April 2013, most recently as managing director, head of global software investment banking from 2009-2013.
“Ned’s experience in financial operations as a public company and business unit CFO, along with his background serving technology companies and investors, are an ideal fit for Twitter as we work to extend our positive momentum, continue growing our audience and achieve greater operating efficiency,” Twitter CEO Jack Dorsey said in a statement. “He brings a principled, engaging and rigorous approach to the CFO role, with a track record of driving profitable growth.”
In a tweet, Segal said, “Believe @Twitter has an important mission and tremendous potential; can’t wait to work w/ @jack and the awesome leadership team!”
Twitter is scheduled to report second quarter 2017 results on July 27 prior to market open.
Segal’s annual salary will be $500,000, and he is entitled to a signing bonus of $300,000, according to an SEC filing. In addition, Twitter is granting him 794,444 shares of Twitter common stock to vest over four years and 372,223 performance-based restricted stock units that vest based on the achievement of certain performance targets over next four fiscal years.