Twitter has hired a former Goldman Sachs executive as its new chief financial officer, citing his "track record of driving profitable growth".

Ned Segal will join Twitter in late August, taking over the role from Anthony Noto, who is currently both CFO and chief operating officer at the social network.

Mr Noto has held both roles since the departure of Adam Bain last autumn, and will remain chief operating officer once Mr Segal joins.

"Ned’s experience in financial operations as a public company and business unit CFO, along with his background serving technology companies and investors, are an ideal fit for Twitter as we work to extend our positive momentum,” said Twitter chief executive Jack Dorsey.

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

Mr Segal most recently served as senior vice-president of finance at financial software group Inuit, prior to which he worked at Goldman Sachs for 16 years.

His appointment comes less than three months after Twitter posted its first ever revenue decline, in the first quarter of the year. At the time, Twitter had said the 8pc fall was due to an advertising overhaul.