(GS.N), as its chief financial officer beginning in late August.
Anthony Noto, who has been serving as
Twitter's CFO and chief operating officer since November, will remain at the
company as COO, Twitter said in a statement.
The appointment of Segal, 43, comes as
investors are demonstrating renewed optimism in Twitter, which still lags rival
social network Facebook Inc (FB.O) in terms of size and profitability.
Twitter shares rose 3 percent on Tuesday,
before the announcement of Segal's hiring after the market's close. The stock
is up 32 percent since April 17, when it hit the low of the year at $14.12.
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.
Before joining Intuit, Segal was the CFO of
RPX Corp (RPXC.O), which helps companies manage patent risk, and earlier spent
some 17 years at Goldman, according to a biography provided by Twitter.
From 2009 to 2013, Segal was a Goldman
managing director and head of its global software investment banking unit,
advising tech companies on mergers, acquisitions and initial public offerings,
Twitter said.
Twitter Chief Executive Jack Dorsey said Segal
was an ideal fit because of the range of his experience.
"He brings a principled, engaging and
rigorous approach to the CFO role, with a track record of driving profitable
growth," Dorsey said in a statement.
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.
Twitter is scheduled to report earnings for
the second quarter on July 27.
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