Twitter’s CEO Search: Not Going So Well

June 25, 2015 0 Comments

Well, it’s pretty clear from Twitter’s message to investors. The search for a CEO for Twitter is still ongoing, with very little prospects of Jack Dorsey becoming the permanent CEO. That is, if Jack is still planning on being the CEO of Square.

I’m not really sure why they couldn’t have announced Costolo’s resignation first, and then have his step down once the board has found a suitable replacement. The board was actually planning on getting rid of Dick, but Dick decided not to delay inevitable and resign. If this is true, and the board is really not interested in making Jack full-time CEO, why stop at just intirim CEO? It’s not uncommon for the replacement CEO to become the full-time CEO.

Remember when the CEO of Mozilla Brendan Eich took all of that heat for supporting California’s controversial Proposition 8 Law (an initiative which effectively banned Gay Marriage in California)? It was also found that he gave $1,000 in support for the proposition. Needless to say, he took lots of heat for that, even from his employees. When it became unpopular for him to continue being CEO of Mozilla, Chris Beard replaced Eich as Interim CEO. Beard eventually became the permanent CEO.

And, of course, we all know the story of Steve Jobs and how Apple brought him back to manage the crisis the corporation was having within in 1997. In 2000, he was officially named the CEO, and from there, it’s history.

Granted, Mozilla would probably be a better comparison to use than Apple. After all, Apple and Twitter are completely different animals in the food chain. Even still, Twitter is very different from Mozilla. Aside from the fact that Mozilla is not-for-profit, which has been around since 1998, it benefits largely from contractual agreements with Google and Nokia.

Twitter is still relatively young, with barely a decade under its belt. Finding a good CEO takes time, and the board of Twitter most like knows that it could find a suitable replacement from within. They just don’t want that person to be Dorsey.

Then again, I probably wouldn’t blame them. Aside from all of the technical blunders that occurred when Twitter fresh on the market (which has improved during that time), Jack’s financial skills is left to be desired. According to Nick Bilton’s book, Hatching Twitter (2013), Jack repeatedly made mathematical errors with keeping track of Twitter’s finances. He also wasn’t one of the best people to work with.

Although, he was young and inexperienced. He wasn’t ready to be CEO at that time, and perhaps he has grown more as an executive since becoming CEO of Square. Although, this hasn’t factored into their executive recruiting processes and Jack’s trial run as CEO most likely left a bad taste in the board’s mouth. As they say, you don’t get a second chance at a first impression.

Despite this, one of Twitter’s biggest investors and supporters have called this transition a debilitating mess.

However, any observer will agree that the CEO transition announcements were sloppy and confusing. Investors were left trying to interpret seemingly conflicting accounts and trying to read the tea leaves about where the company was going. Along the way, specific statements about Twitter’s future crushed investor hopes and turned what could have been a very positive event for the company into a debilitating mess.

2,343 total views, 2 views today