Twitter (TWTR) Stock Pops After COO Departure

NEW YORK (TheStreet) -- Twitter (TWTR) stock moved higher on Thursday even on the news of the social network's biggest executive departure since it went public. 

By market close, shares had added 3.5% to $36.79. Trading volume of 58 million shares was well over its three-month daily average of 33.6 million. 

In a filing, the company said chief operating officer Ali Rowghani had resigned, though he would remain a Twitter employee, acting as strategic adviser to CEO Dick Costolo. Of note, Twitter said it didn't intend to find a replacement but rather that Rowghani's remaining responsibilities would be delegated to existing executives.

Rowghani had held the role of COO since 2012, prior to which he had acted as chief financial officer for two years. 

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