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Twitter Exec Adam Bain Steps Down to ‘Do Something New'

Twitter's Chief Operating Officer Adam Bain is resigning his post after six years in yet another shakeup at the struggling tech firm.

According to a report from the Mercury News on Wednesday, Bain will be replaced by Chief Financial Officer Anthony Noto, and the firm will search for a new CFO.

In a series of tweets, Bain indicated he was ready to "do something new" outside the company.

San Francisco-based Twitter, which has struggled to expand its user base and to meet Wall Street expectations, saw its stock dip 4 percent Wednesday after the announcement, the newspaper said.

In October, the microblogging social network laid off about 350 workers, or roughly 9 percent of its worldwide workforce.

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