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Pinterest poaches Twitter's finance VP to fill newly-created CFO role

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By Rebecca Stewart, Trends Editor

October 5, 2016 | 2 min read

Pinterest has hired its first ever chief financial officer in the form of Todd Morgenfeld, who joins from Twitter where he was vice-president, finance.

Pinterest taps Twitter's finance VP to fill newly-created CFO role

The move could signal that the visual bookmarking platform is gearing up for an initial public offering (IPO) according to the Wall Street Journal, but the company's chief executive has said otherwise, saying it had no plans for an IPO at this time and that the appointment simply relfected the team was "scaling the business up."

“We’re really excited to bring on Todd,” he told the Journal, adding that Pinterest's current head of finance, Natalie Fair, is “looking at other opportunities within the company."

He continued: "Todd brings to the company a wide range of experience from HP to the military to a fast paced environment like Twitter. He believes in our mission and the strong business opportunity it presents. We are committed to building our company for the long term and thrilled that Todd will be an integral part of continuing this growth."

Morgenfield has been at Twitter for around 18 months, having been recruited by finance chief Anthony Noto in 2014, meaning he has served under both Dick Costolo and Jack Dorsey's leadership.

Pinterest has been aggressively expanding its advertising and e-commerce tools over the past 12 months, introducing new formats for brands like Promoted Pins as well as better targeting capabilities.

75 per cent of all content on Pinterest is created by businesses, with the sharing platform boasting 100 million users per-month.

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