Twitter COO Adam Bain is stepping down, making the announcement in a series of tweets.
After 6 years and a once-in-a-lifetime run, I let Jack know that I am ready to change gears and do something new outside the company.— adam bain (@adambain) November 9, 2016
Bain said he’s ready to change gears and do something new outside the company. "I have nothing but love for this unbelievable company and product," he said. "It’s been a privilege to have played a role in helping build something so special."
Twitter has named chief financial officer Anthony Noto as COO effective immediately.
Bain became COO last year. He was previously Twitter’s president of global revenue and partnerships. During a 2014 visit to Singapore, Bain had told Campaign Asia-Pacific that his top priority is to work with brands to answer the "how Twitter" question.
"What is different about Asia is the way consumers view the platform. Where people in other parts of the world use Twitter for self expression, the audience in Asia spends much of its time seeking news and information," he said.
Prior to Twitter, Bain was the chief technology officer at Fox Interactive Media where he led the company’s acquisition of MySpace.
Twitter said it will be cutting its staff by 9 percent globally and announced plans to discontinue its Vine app. "We’re taking the necessary steps to ensure Twitter is well positioned for long-term growth," CEO Jack Dorsey said.
Twitter’s monthly active users rose to 317 million in the September quarter, from 314 million the previous quarter—relatively stagnant when compared to Instagram and Snapchat.