Twitter‘s (NYSE: TWTR) COO Adam Bain recently resigned in the latest major executive shakeup at the struggling social network. CFO Anthony Noto will take over Bain’s position, and the company has started a search for a new CFO.
Bain, who spent six years with Twitter, was on the shortlist to replace Jack Dorsey as the company’s CEO. In a tweet, Bain stated that he was “ready to change gears and do something new outside the company.” Does this latest departure spell more trouble for Twitter, which has lost over 50% of its value over the past three years?