Former Twitter CEO Dick Costolo let the door hit him where the good Lord split him exactly 100 days ago, and everyone said that his replacement would be amazing and arriving soon.
They shouldn't have said that.
In a note Monday SunTrust analysts argue that the search has gone on long enough. “We are stunned that we have now passed over 100 days since the announcement of the former CEO’s resignation,” wrote technology analyst Robert Peck. “Feedback we hear from investors is that the process has taken too long.”
100 days is quite awhile.
Napoleon fought an entire war in 100 days. FDR ended the Great Depression in 100 days.
It seems fair to argue that a well-known public tech company could find someone to pay a lot of money to in that period of time. So what's up, bros?
It turns out that Jack Dorsey has strung Twitter's board along for 100 days.
The note also questions what has taken the board so long — especially when they have such an obvious pick in their grasp. Who? Billionaire co-founder Jack Dorsey, who has been running the company on an interim basis since July.
The most obvious issue with officially naming Dorsey to the top job is that he is CEO of payments startup Square, which has been valued at $6 billion and is believed to have filed paperwork for an initial public offering. Dorsey has made it clear he has no intention of leaving Square.
Jack just wants the right to run ALL the companies, and he'll play chicken until he gets his way.
But the game has lasted 100 DAYS. Maybe it's time for CFO Anthony Noto to back to his roots and "get Goldman" on some people, or perhaps the moment has come to look at a popular fallback option.