26 January 2016

Twitter Fumbles Succession (Again!)

The saga continues for Twitter who has struggled to replace its founder ... with its founder!  Jack Dorsey, who regained the throne after a very public recruit turned up no one else capable  of leading the company, seems to be having a rough go of it.  Last week four top executives exited the company.  Dorsey, who continues to also run Square, does not seem to know what to do.

The incestuous Board of Directors has been of no help either.  We reported in July of last year that three former CEOs, Dick Costolo, Evan Williams and Dorsey, who served once before as CEO, make up a good portion of the board.  For a company that seems to need some new ideas, it certainly is difficult to get things done with the old guard in charge, a direct consequence of parking former CEOs on a board.

Apparently, Twitter is considering putting the company up for sale, highlighting the enormous cost of a founder transition gone awry.