Advertisement

Twitter’s chief operating officer, Adam Bain, is leaving the company

Twitter has struggled recently to expand its user base and drive revenue, and it has never had an annual profit.
Twitter has struggled recently to expand its user base and drive revenue, and it has never had an annual profit.
(Josh Edelson / AFP/Getty Images)

Twitter Inc.’s chief operating officer announced he is leaving the company, adding to the microblogging firm’s recent struggles.

Adam Bain tweeted the news Wednesday, saying that after “six years and a once-in-a-lifetime run,” he told Twitter Chief Executive Jack Dorsey that he was “ready to change gears and do something new outside the company.”

Twitter said Bain will be replaced by the company’s current chief financial officer, Anthony Noto. Bain will help with the transition “over the coming weeks,” and the company said it has started to look for a new chief financial officer.

“I have nothing but love for this unbelievable company & product,” Bain tweeted. “It’s been a privilege to have played a role in helping build something so special.”

Advertisement

“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,” Bain continued.

He gave no details on what he might do next, telling Twitter followers to “stay tuned.”

In his own tweet, Dorsey said he had “much love and respect” for Bain, describing him as a “mentor, a partner and family forever.”

Bain’s departure comes at a difficult time for the San Francisco tech company.

Advertisement

Twitter has struggled recently to expand its user base and drive revenue, and it has never had an annual profit. The company has tried to increase its live-streamed sports coverage by signing deals with the NBA and Pac-12 Networks, though analysts have said those plans were unlikely to attract new users.

Last month, Twitter said it would shut down Vine, a video app the company bought about four years ago. Though popular, analysts said Vine — which allows users to create and view endlessly looping six-second videos — was too limiting for advertisers.

Twitter has also long been the subject of takeover rumors. In September, the company was reportedly eyed by firms such as Google Inc., Walt Disney Co. and cloud-computing software firm Salesforce.com Inc., but no deal emerged.

samantha.masunaga@latimes.com

Advertisement

For more business news, follow me @smasunaga

ALSO

Column: Will Trump put stimulus spending back on Washington’s agenda?

Solar power proponents are hopeful Trump sees benefit of growing industry

Advertisement

After Trump’s win, even some in Silicon Valley wonder if Facebook has grown too influential


Advertisement