The way some sources are spinning it, Twitter founder Jack Dorsey feels the only one capable of running Twitter is Jack Dorsey.
Stories are coming over from the tech stock financial world that Jack Dorsey is going to stay on in the role of CEO at Twitter. After former CEO Dick Costolo stepped down, Dorsey absorbed the gig as an interim CEO until a suitable replacement could be found. Several prominent figures were reportedly vying for the role, even rapper Snoop Dogg stepped up as a candidate. But if Robert Peck, respected financial analyst for SunTrust Robinson Humphrey, an investment banking firm, is to be believed next week Dorsey will have himself made the permanent figurehead. Peck writes (via Barrons):
“As we have stated, we think the company is likely to announce a Triumvirate of leadership, with: Jack Dorsey as CEO, Adam Bain as COO / President, and Ev Williams with more board influence (perhaps Chairman). At this time, we still expect Jack Dorsey to remain as CEO of Square as well. It is unclear how institutional investors will react to a permanent CEO who is also the CEO of a pre-IPO company. However, given the complexity of Twitter’s turnaround and product road map, this Triumvirate structure may be the best solution. Further, more involvement by Mr. Williams may stem his large share sales. We also acknowledge recent executive purchases of stocks, including the CEO and CFO. As a replacement for Bain’s current role, we have heard strong accolades for Richard Alfonsi (a former Googler and VP of Global Online Sales at Twitter since 2012).”
So with that coming from the stock world, how did the speculation affect Twitter’s current market price?
It’s up! Slightly. But hey, anything to help the company get some faith back from its money crowd, right?