As major investor Chris Sacca urges Twitter to hire a permanent CEO, the internet booms with concern for the company’s outcome.
Dick Costolo, Twitter’s former Chief Executive Officer (CEO) resigned three months ago and it seems that the company has been struggling to find a replacement for him ever since.
Twitter’s interim CEO, Jack Dorsey, who is also one of the company’s founders, would be perfect for the job, in the opinion of Chris Secca and the vast majority of Twitter employees, but there is one massive issue that is most likely the main reason why his position at Twitter has not yet been made permanent.
Jack Dorsey is a very busy man, as he is also the founder and CEO of credit card processing and financial services company Square, which is a full time job in itself to say the least.
Needless to say, Jack Dorsey has done an amazing job, since so many people are rooting for him in the run for Twitter’s CEO, but juggling both Twitter and Square is just too much work for one person. Therefore, this is not a feasible long term solution and this is exactly what is making the decision so difficult.
For now, everybody is waiting for Jack Dorsey to make a choice between Twitter and Square, because him delegating the responsibilities of one of the companies is absolutely crucial for Twitter’s future.
“They are running a ‘process’ yet there is only one person fit to run this company: @Jack (Dorsey)”, said Chris Sacca in his latest company related tweets.
Faced with an almost impossible decision, it is understandable why it is taking quite a lot of time for Dorsey to pick one of the two companies. Furthermore, Twitter is also looking for alternative options in the meantime, interviewing a massive amount of strong candidates. While no clear contender for Jack Dorsey has been made public just yet, the list is quite long, it seems.
However, since Twitter is a real-time-based company, this three-month-long search for a new CEO is not at all beneficial for the outcome of the company. With Twitter stocks heading for an all time low and with a clear stagnation in the company’s ability to attract new users, a permanent replacement for Dick Costolo needs to be named as soon as possible.
In the meantime, it seems that Twitter’s employees are holing the company, in spite of the unclear nature of the management of the company. As for Jack Dorsey, he needs to make a decision soon, because the clock is ticking for Twitter.
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