Twitter announced Tuesday that Chief Financial Officer Mike Gupta would be replaced by Anthony Noto from Goldman Sachs who led the social media company through its IPO in 2013. Gupta had been with the company since December 2012.

Noto, 46, is becoming the San Francisco company's senior vice president for strategic investments by August. This position will earn Noto $250,000 annually, as well as a one-time stock award of 1.5 million shares over the next four years. He also will get a grant to buy 500,000 additional shares of the company.

His role at Goldman Sachs was previously the managing director in technology, media and telecom investment banking group, briefly leaving the firm in 2008 to be the CFO for the National Football League but then returned in 2010. Noto became co-head of business the following year and beat out competitors to secure Twitter's initial public offering becoming close with Twitter's CEO Dick Costolo throughout the process.

This announcement marks the second executive change at Twitter in recent months, as Chief Operating Officer Ali Rowghani resigned in June. Last month Chloe Sladden, a former vice president of media divisions, also left.

Rowghani's departure has swirled more rumors about Twitter's lack of new user growth and the site's inability to monetize its user base on par with competitor levels, such as Facebook. This has caused what appears to be a lack of enthusiasm from Wall Street about Twitter.

Shares of Twitter began to rise after Rowghani announced he was leaving last month, after remaining 33 percent down for much of early 2014. The announcement of Noto's addition to the Twitter team Tuesday has sent the shares further up, about 4.3 percent to $42.73.

Twitter was first publicly available in 2006. As of January 2014, the company has over 645 million active registered users and a 2013 reported revenue of $405.5 million.

Related