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Twitter COO Anthony Noto is leaving the company.
Noto will be CEO at SoFi, the online finance company said Tuesday, following reports this weekend that SoFi offered him the job.
Following the announcement, shares of Twitter fell more than 2.5 percent in early trading.
"Working at Twitter has been a once in a lifetime opportunity, and I am immensely proud of our team and the key milestones we achieved during my time at the company," Noto said in a statement.
CEO Jack Dorsey tweeted that he was sad to see Noto go.
Noto, formerly a banker at Goldman Sachs, has long wanted to be a CEO, according to Recode.
He joined Twitter in 2014. According to Recode, Noto was behind the company's push into live video programming.
Interim SoFi CEO Tom Hutton will become nonexecutive chairman of the board, the company said.