Twitter ( TWTR) on Tuesday named Ned Segal its new Chief Financial Officer, assuming the position from Anthony Noto, who will remain the social media company's Chief Operating Officer.

Segal last served as Senior Vice President of Finance for software company Intuit's ( INTU) small business group.

Prior to that, Segal spent nearly 17 years at Goldman Sachs ( GS) where he worked as the Head of Global Software Banking.

"He brings a principled, engaging and rigorous approach to the CFO role, with a track record of driving profitable growth," CEO Jack Dorsey said in a statement.

Shares of Twitter closed higher by 3.10%, or 56 cents, to $18.64 per share on Tuesday.

What's Hot On TheStreet

Watch out, Apple: Louis Vuitton Tuesday unveiled its first smartwatch coined the Tambour Horizon in a bid to cut into Apple Inc's (AAPL) hold on the wearables market, TheStreet reports.

The watch was made in conjunction with Alphabet's (GOOGL) Google and Qualcomm Technology (QCOM) and starts at a lofty $2,450. It works with both Apple and Android devices, and is the first Android Wear smartwatch that functions in China.

Yes, it's Amazon Prime Day: Although many probably have Amazon (AMZN) Prime Day fatigue right now, that doesn't mean they won't be spending aggressively on big digital deals. Amazon stands to ring up more than $2 billion in sales worldwide during the 30-hour sale known as Prime Day, Internet Retailer predicts. The gain would mark about a 21% increase from a year ago. U.S. sales alone are pegged at $1.56 billion, up 20% from last year, TheStreet reports.

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