It seems like Twitter's epic days of CEO-less wandering are finally coming to an end...
Twitter co-founder Jack Dorsey, who has been serving as interim CEO for the past three months, is expected be named the company’s new permanent CEO as early as tomorrow, although that timeframe may change, according to sources. Dorsey will apparently continue to run Square, the payments company he founded where he’s also CEO.
The move will not be unexpected, with Dorsey in the pole position for most of the search, which has dragged on since this summer when Dick Costolo stepped down as the San Francisco social communication company’s top exec.
Costolo left on July 1st, so clearly Twitter isn't being too hasty in its decision to tear the interim title of of good old Jack. And while the stock price went into a free fall for much of August as the company plodded on without communicating a real succession plan to investors, Twitter just kept it cool. And after everyone in Silicon Valley knew that Jack would be allowed to run both Twitter and Square... still nothing from the actual company about his official return.
So here we are, day 109 and the open secret is still unconfirmed. But that's all part of the "Difficult Jack" Dorsey magic...
But while Twitter has finally filled its top position, it’s likely that Dorsey’s return will mean the departure of others from Twitter’s upper ranks. Longtime head of communications Gabriel Stricker has already been ousted. Costolo was well liked internally, but criticized for failing to articulate Twitter’s long-term mission. Dorsey is very much the opposite, and those who have worked with him say he can be ruthless if you disagree with his vision.
That may be just what Twitter needs right now. Dorsey asked Wall Street for patience on the company’s last earnings call. Now he has a chance to show investors what they’re waiting for.
Wall Street's still waiting though guys, and this sh!t is #gettingreallyold.