Twitter COO Adam Bain Exits Company, Replaced by CFO Anthony Noto

The official announcement was made on Twitter, of course

Twitter's logo on the New York Stock Exchange
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Twitter COO Adam Bain is leaving the company and current CFO Anthony Noto will slide into his position.

Bain made the announcement in a series of Tweets on Wednesday afternoon.

“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,” he wrote. “I want to tell you how I feel about Twitter and why I think this is the right time.”

He is referring to Twitter CEO Jack Dorsey. Bain went on to send numerous tweets about the company, including, “I came here to help build out the business, but more importantly build a team. My team is the best legacy anyone can leave.”

The stock fell more than 3 percent in extended trading once Bain made his announcement.

“Since joining Twitter in 2010, Adam has built an amazing team and a global business from the ground up,” Dorsey told CNBC. “I’m grateful to Adam for everything he’s done for Twitter, and for his leadership and friendship over the years. I can’t wait to see what he does next!”

Bain said his team took the company from “$0 to Billions faster than almost anyone’s ever done it. We diversified the business, took it global” and “We took an organization and scaled it in every way possible.”

The outgoing CFO continued: “I look at what we’ve built together and how far we’ve come, and I feel like I can leave the company now in a place of strength.”

As for Bain’s next move, he is keeping us in suspense, “I’m excited to take w me everything I’ve experienced at Twitter & do something totally different and new outside the company. Stay tuned!” he tweeted.