It's been nothing short of a #freefall at Twitter in recent weeks, with a plunging stock price and a crisis of internal confidence leading to a loud and unmistakable call from the markets that the company find a replacement for not-so-dearly departed CEO Dick Costolo.
Since then, Twitter has gone with co-founder Jack Dorsey as interim CEO, a move that many saw as untenable in the long-term since he was also running his other startup, Square. Twitter has been mum on how things are going in the search for a new boss man other than saying that we want the perfect person, but that kind of vague optimism has only made investors less comfortable.
That only got worse when Twitter failed to act on public applications from qualified candidates.
Yesterday, Twitter's share price fell below it's IPO price for the first time ever.
The shizzle has hit the fizzle. So Twitter really needs to pull the lever on its CEO-decision machine.
But Twitter is a bastion of Silicon Valley culture so it is not going to give Wall Street what it wants... According to BI, it's going to give Wall Street what it didn't even know it wanted.
A report by SunTrust analyst Robert Peck said the announcement of a new CEO could come as soon as this week, which is now drawing to a close.
That report said the most likely scenario would involve Twitter co-founder Jack Dorsey getting the nod for the top job, even though he will have to do double-duty and continue as CEO of digital payments company Square.
To bolster the team, Twitter would apparently make revenue boss Adam Bain President, while Evan Williams, another Twitter co-founder, will become Chairman of the board.
What's cooler than a CEO?
A three-headed CEO!
So enjoy the weekend and use this market nightmare to re-evaluate $TWTR. After all, the company the company is disrupting the idea of the modern CEO.