Bain’s last days at Twitter were plagued by a stagnant user base and a decline in profit growth
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Twitter Chief Operating Officer Adam Bain announced on 7 November 2016 that he has decided to leave the microblogging giant. This follows a number of high profile exits from the company in the form of Parminder Singh, Managing Director Twitter, India and South East Asia (INSEA), Middle East and North Africa (MENA), Rishi Jaitly, Vice President Media for Asia Pacific and Middle East, and Shailesh Rao, the Vice President, International Operations.
“The past six years have been incredible, and I’m inspired by what Twitter has become and what it will be in the future,” read a statement by Bain. “Anthony and I have worked side by side since he joined Twitter in July 2014 and I have full faith in what he and the teams will accomplish in the future.” he added.
Adam Bain, 43, has spent six years at the microbloggig company. Over his time at the company, he is credited with building the company's ad business, and was once a candidate for the post of chief executive before which was eventually given to Jack Dorsey. A popular COO he was also the subject of hash tag #AdamBainIsSoNice and an article in Recode. He also established good rapport with Wall Street as he built and ran Twitter’s advertising business.
In the last days of Mr Bain’s tenure, Twitter has seen a decline in profit growth, stagnant user base and slashed 350 jobs, about 10 percent of the company’s work force. The company has also toyed with the idea of selling itself, but failed to find any takers.
On 9 November 2016, the company announced that Bain would remain at Twitter for the coming weeks to help with the transition. Bain will be replaced by Mr Anthony Noto, Twitter’s Chief Financial Officer. In the meantime the company is looking for a new CFO. Noto has been one of the key figures behind Twitter’s ambitions to become a live streaming video portal and an agreement with the National Football League for streaming Thursday night games.
The New York Times quoted anonymous sources at Twitter who stated that Bain would not be joining any of twitter’s competitors like Facebook. Instead he will probably explore options outside the advertising industry they said.
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