Twitter has had a rough time in the market recently. In fact, over the past three months, we’ve seen nothing but declines out of the stock. However, much of that has to do with the resignation of Dick Costolo and the fact that they are taking so long to find a new CEO. In fact, it’s been 100 days since TWTR had a permanent CEO and experts expected the search to end weeks ago. So, what’s the hold up? Here it is…
Twitter Is Stuck Between A Rock And A Hard Place
Twitter is a massive company with quite a bit going on so whoever takes the position as long-term CEO for the company is going to have to be very qualified to do so. However, there’s a bit of a caveat here; Twitter is struggling! For quite a while now, investors have talked about Twitter’s user data and the fact that the company’s data isn’t really what it should be. In order to fix the problem, the company is going to need to make massive changes – changes that only a solid CEO can make.
This puts us into a bit of a bad position. Think about it… you’re this big time CEO, everyone knows your name, and you have a bit of availability. Out of all the companies out there, would you choose Twitter? After all, if you take the position now and have a rough time bringing in the new users and fixing Twitter’s damaged reputation, that’s going to fall back on you. There’s no pointing the finger at the last guy! Who would want that position? I know I wouldn’t!
This Brings Us To Jack Dorsey
Jack Dorsey has been with Twitter since he co-founded it and when Costolo stepped down, he took the position as interim CEO. However, it’s important to keep in mind that Dorsey never wanted to be CEO. Now, investors are saying, “Dorsey, you co-founded the company, you would be the best person to take the position.” However, in my opinion, that’s not a good idea either. You see, Dorsey is currently the CEO of Square, a company that will be going public soon. When this happens, Dorsey will have little time to focus on anything else – especially bringing Twitter back up in the eyes of investors. So, while investors want Dorsey to take over permanently, this just isn’t a feasible idea.
Where Do We Go From Here?
To be honest, I’m not quite sure. The bottom line is that Dorsey can’t maintain the position as CEO of TWTR forever, he’s got plenty to focus on elsewhere. Finding a solid CEO for the company has proven to be a big issue over the past 100 days and is likely going to continue to be a struggle. I wish I had an answer for the question above, but I just don’t think there’s one out there right now. One thing I am counting on is seeing more declines in TWTR until the CEO shake up finally comes to an end!
What Do You Think?
Where do you think TWTR is headed and why? Let us know in the comments below!
[Image Courtesy of Rocket Post]