Twitter Bolsters Finance Team as CFO Adds Marketing Duties

By Yoree Koh 

Twitter Inc.'s financial chief Anthony Noto is bringing in help on the finance side as he takes on the added role of heading the social media service's marketing department.

Twitter has hired five new senior-level finance managers--including Todd Morgenfeld from Hewlett-Packard Co. and former Goldman Sachs Group Inc. executive Steve McGuinness--to streamline the teams reporting to Mr. Noto, according to people familiar with the matter. Mr. Noto announced the new hires to his team on Tuesday afternoon.

The announcement comes on the same day news leaked that Mr. Noto has brought the marketing team under his jurisdiction from the product department. The unusual move highlights the former Goldman Sachs banker's growing influence within the company less than a year after he joined.

The changes also come as Twitter's management, led by Chief Executive Dick Costolo, has come under fire from investors after missing revenue estimates last month. Mr. Noto ascribed the first-quarter shortfall to a "demand issue" with its advertising products that resemble tweets and allow users click on them and take an action, such as downloading an app or watching a video.

Dana Mattioli and Dana Cimilluca contributed to this article.

Write to Yoree Koh at [e-mail]

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