Twitter COO Adam Bain Leaving the Company

Twitter Chief Operating Officer Adam Bain is stepping down after six years at the helm, adding more uncertainty to the struggling tech firm's murky future.

Anthony Noto, Twitter's chief financial officer, will take over Bain's job, according to a regulatory filing to the U.S. Securities and Exchange Commission on Wednesday. Twitter is searching for a new CFO.

In a series of tweets, Bain said that he was "ready to change gears and do something new outside the company." He didn't say specifically where he's headed next, but tweeted to "Stay tuned!"

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's departure is the latest major leadership shakeup at Twitter, which has struggled to attract more users and hit Wall Street's expectations. In October, the company announced it was laying off about 9 percent of its global workforce, or an estimated 350 employees, and that it planned to shut down video app Vine in the coming months. The tech firm reported a net loss of $103 million in the third quarter but is trying to become profitable in 2017.

"Bain is a big hole to fill just in terms of his presence in the industry," said Brian Wieser, an analyst with Pivotal Research.

The 43-year-old joined Twitter in 2010 after working at Fox Interactive Media and Fox Sports. Under his leadership, Twitter grew its sales from $28.3 million in 2010 to $2.2 billion in 2015. Bain [pictured above] is reportedly well liked within the company, and when Twitter was searching for a new CEO last year there were rumors that he might be in the running for the job. The hashtag #AdamBainIsSoNice started trending on Twitter.

But Twitter, which has 317 million monthly active users,...

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