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Why Twitter Let Noto Walk Away

  • COO’s decisive manner aided recovery, but he wanted a CEO job
  • Social-media company doubles down on vision of co-founder
Bloomberg business news
Bloomberg’s Selina Wang and Julie Verhage discuss Anthony Noto’s departure from Twitter.(Source: Bloomberg)
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Twitter Inc.’s executives gathered from around the world this week at its offices in New York’s Chelsea neighborhood to discuss the state of the company, goals for the year, and management’s broader ambitions. The twice-yearly meeting is usually a chance for Twitter’s leaders to re-commit themselves and air any concerns to their hundred or so peers.

This time, the meeting was hijacked by one particular concern: the resignation of Anthony Noto, Twitter’s chief operating officer. Early Tuesday, Noto informed his colleagues that he was leaving the social-media company to become chief executive officer of online-lending startup Social Finance Inc.