Twitter appoints Ned Segal as CFO

Twitter Inc has appointed Ned Segal as its Chief Financial Officer beginning in late August, according to media reports. Ned is currently working as the Senior Vice President of finance at Intuit Inc.

Ned will take over from Anthony Noto who is serving as Twitter's CFO and Chief Operating Officer since November, will remain at the company as COO, Twitter said in a statement.

Twitter Chief Executive Jack Dorsey said in a statement about Ned’s appointment, "He brings a principled, engaging and rigorous approach to the CFO role, with a track record of driving profitable growth.”

Before joining Intuit, Segal was the CFO of RPX Corp, which helps companies manage patent risk, and earlier spent some 17 years at Goldman Sachs, according to a biography provided by Twitter.

From 2009 to 2013, Segal was a Goldman Sachs's Managing Director and Head of its global software investment banking unit, advising tech companies on mergers, acquisitions, and initial public offerings.

In April, Twitter reported better-than-expected user growth in the first quarter of the year, partly related to heightened user interest in political news and comment.

Segal said in a statement he was committed to helping Twitter "continue toward its goal of GAAP profitability."

Segal is entitled to receive a signing bonus of $300,000 and his annual salary will be $500,000, Twitter said in a securities filing. He will also be eligible to receive 1.2 million shares in the company, subject to conditions and vesting, according to the filing.