Dick Costolo left his CEO position at Twitter three months ago, in late June. Ever since, co-founder Jack Dorsey has been the interim head of the social networking company, but the quest for someone to permanently step into Costolo’s shoes is on.
And now it seems that the pressure is really on, given that investors are getting restless due to the 22% slip that stock prices have taken. Some product executives have even departed, what with the current $26 share rate, which is exactly what they had paid during the initial public offering back in November 2013.
Analyst Colin Sebastian of Robert W Baird & Co. revealed to Bloomberg, “The company, its employees and certainly its shareholders are in a little bit of limbo.”
However, it seems that Spencer Stuart, the establishment’s search firm, has narrowed down its choices to four people: Jack Dorsey, Padmasree Warrior, Jim Lanzone, and Adam Bain.
Dorsey is the current CEO of Square, the mobile payment startup, and also the interim head following Costolo’s exit. He is, at present, the most expected choice. Besides him, another favorite is Revenue Chief of Twitter, Adam Bain. Lanzone is CBS Interactive’s president. Warrior, who is the former CTO of Motorola as well as Cisco Systems, is the latest addition to the list—she was mentioned in Forbes’ 100 Most Powerful Women in the World in 2014.
While it is unsure of who will actually become the highly anticipated President of Twitter, the board announced an upcoming meeting, after which hopefully a result can finally be expected.
Luckerson, V., “Twitter is feeling pressure to name a new CEO,” Fortune web site, September 3, 2015.
“Twitter CEO Hunt: Indian Padamsree Warrior joins race,” Hindustan Times web site, September 4, 2015.