- Strong signs for push-out forces
- After about a year on the job
- Laud, praise and thanks for Bain
- Anthony Noto takes over
(management-change.com) — San Francisco, California, November 09, 2016 — Adam Bain, operating chief of Twitter, leaves. It is an abrupt change. As announced by Twitter, Inc. in a news release and in a regulatory filing published on Wednesday, November 09, 2016, Adam Bain leaves the post as Chief Operating Officer at the online news and social networking service in a surprising move after about a year on the job, effective immediately.
No company wants a COO to flame out in the first years.
In many companies, the chief operating post is a steppingstone to the CEO suite.
Bain’s duties are taken over by Anthony Noto, Chief Financial Officer at Twitter, Inc.
“Explore opportunities outside the company”
Bain’s sudden departure is explained as follows. Twitter said: Adam Bain “has informed the company of his decision to step down as COO and explore opportunities outside the company”.
The phrase “explore opportunities outside the company” is often used in corporate announcements and opens the door to speculation.
Generally speaking, it is often an alarm signal for stockholders when a top leader leaves the post abruptly and without an understandable explanation.
“His final decision to resign”
Twitter said: Adam Bain “notified Twitter of his final decision to resign on November 7, 2016”.
Precise information about the future plans of Bain was not immediately available.
Share price decline
The change follows a decline in the share price of Twitter, Inc. since April 2015.
Chaired by Omid Kordestani
Twitter, Inc. is chaired by Omid Kordestani.
As Executive Chairman of Twitter, Kordestani is responsible for providing leadership and support for the executive team, as well as recruiting key talent.
Jack Dorsey serves as CEO of Twitter, Inc. Dorsey is a Co-founder of Twitter and has been its Chief Executive Officer since September 30, 2015.
On the job as COO since 2015
Adam Bain has been the Chief Operating Officer of Twitter, Inc. since September 30, 2015.
Bain was Chief Operating Officer at Twitter, overseeing the company’s business operations as well as its worldwide monetization efforts and advertising platform.
He previously served as Twitter’s President of Global Revenue and Partnerships.
Prior to joining Twitter in 2010, Bain was President of the Fox Audience Network (FAN), a role in which he oversaw a division that includes one of the web’s largest advertising platforms and a team dedicated to monetizing News Corporation’s web properties and hundreds of third-party online publishers.
Previously, Bain served as Fox Interactive Media’s original Chief Technology Officer, and helped spearhead acquisitions of MySpace, IGN, Photobucket, and Scout Media.
He began his career with News Corp running the technology and product divisions at FOXSports.com, and previously served in several roles within the online news industry, including stints at latimes.com and Cleveland.com.
In September 2012, Bain was listed as #1 in “AdWeek’s 50” ranking of indispensable industry talent.
He serves on the board of the Ad Council and is a member of their Executive Committee.
Bain will assist with the transition of the COO role over the coming weeks.
Strong signs for push-out forces
It is not completely certain what forces eventually triggered Adam Bain’s move.
The Push-out Score™ determined by management-change.com suggests strong signs for push-out forces that may have contributed to the management change.
Read the full story in the management-change.com report 42.2016 ($).