Dorsey Trending As Likely Pick To Be Twitter's Future CEO
SAN FRANCISCO (KCBS) - The spotlight is on Twitter's board meeting, with investors hoping the company is getting closer to naming a permanent CEO, three months after Dick Costolo stepped down.
Bloomberg says people close to Twitter's board have told them that chairman and interim CEO Jack Dorsey is the top candidate, although that would likely require Dorsey to give up his CEO post with mobile payment service Square, which is set to go public after filing confidential IPO papers in July, allowed to be kept secret by the SEC because Square's annual revenue comes in under one billion dollars.
The report says that while Twitter has reached out to other potential candidates, many have expressed doubt that they were seriously considered while Dorsey sits in the corner office.
Twitter's shares have been on a dive since the beginning of 2015, falling 20-percent on weak earnings and the inability for the firm to grow its user base or keep it engaged like Facebook can.