Twitter COO Adam Bain steps down; CFO takes over

The outflow of highly-placed executives from US-based micro-blogging site Twitter Inc., in the midst of media reports of a possible sell out, continues.

The social media company announced on Wednesday that its chief operating officer (COO) Adam Bain is leaving the company.

Bain's post will be taken over by chief financial officer Anthony Noto.

Bain tweeted that, "After 6 years and once-in-a-lifetime run, I let Jack (Dorsey, the CEO) know that I am ready to change gears and do something new outside the company."

"The past six years have been incredible, and I'm inspired by what Twitter has become and what it will be in the future," Bain said in a statement, reported by The New York Times.

"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.

Jack Dorsey, the US-listed firm's chief executive officer said, "Since joining Twitter in 2010, Adam has built an amazing team and a global business from the ground up.

The exits have been a global trend for Twitter now.

Twitter's India head Rishi Jaitly had quit on 1 November.

Jaitly, who was at the helm of Twitter's India operations as vice president of Asia Pacific and Middle East businesses, revealed on Twitter that he is moving on to pursue "new opportunities."

In a series of tweets, Jaitly said he would be spending time in India and Asia to work in the technology field.

Just two days later, the company's managing director for India, South East Asia and Middle East and North Africa (MENA) region, Parminder Singh had stepped down.

In a series of tweets, Singh said that he would be leaving the company after a three-year stint. He had previously worked with Google, IBM, and Apple, and had joined Twitter in November 2013.

Maya Hari has been appointed Twitter's new managing director of Southeast Asia and India. Maya previously managed Twitter's ads product strategy & adoption for Asia Pacific, MENA and Latin America.

There were several media reports in the last couple of months of a potential sale of the San Francisco-based company, as it is still making losses.

The company reportedly held preliminary talks with several technology companies, including Google and Salesforce, and could soon receive a formal buyout bid. But nothing has been announced yet.

In September, Twitter decided to stop global engineering work in India at its Bengaluru development centre and lay off employees, citing a business review process.

There was another report which said Twitter is planning to cut 300 jobs globally.