It’s a storyline that the tech world has seen before. This came from Dorsey as he quietly announced this infor during his CEO message, adding another layer of change to the social media juggernaut as well.
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Jack Dorsey, co-founder and former CEO of Twitter, has become CEO of the social network once again.
In his first interview since helping appoint the “permanent CEO” of Twitter, Evan Williams says it’s “not ideal” that their pick, his fellow co-founder Jack Dorsey, has two jobs.
Will history continue to repeat itself? Following Costolo’s exit, Dorsey came in ready to shake up Twitter’s business and lay out a long-term vision for the company amid frustrations over the lack of clear growth strategy.
Twitter dumped Dorsey his first time around, but its board of directors now appears convinced he has the maturity to fix the problems that has caused the company’s stock to lose almost half its value in the past five months. He said everyone knew Jack was capable and deserved the position.
Peck commented, “While we are very pleased with today’s announcements, we think that ultimately the company and Mr. Dorsey will be judged on their execution”.
With Dorsey at the helm, Twitter’s future plans have revealed that the company will be building a new product that will allow users to share tweets longer than 140 characters.
So he and his colleagues have lots of new initiatives created to make Twitter more intelligible and useful for people who haven’t been using it since 2009. That’s ambitious. Dorsey-with his newly promoted chief operating officer and ad guy, Adam Bain-will have to compete with the brighter stars of Instagram, Facebook, and Snapchat for the attention of chief marketing officers and their smartphone ad dollars. He was accused of stealing the spotlight from other company executives and not sharing the company’s early successes.
Williams’ public vote of support for Dorsey, which he also expressed in a blog post on Monday after Dorsey was renamed CEO, indicates that the contentious relationship between the two is healing.
“Jack Dorsey has matured”, Blau said. Both companies are pending a major board shakeup.
The San Francisco-based microblogging company has consistently disappointed investors and been plagued by management dysfunction and sluggish user growth. In the event this feature finds resonance among those users who signed up on the platform but did not convert into active users, Twitter’s stock could see upside in the future, we believe. He said recent product initiatives have yet to produce “meaningful impact” on growth and engagement, which “is unacceptable and we’re not happy about it”. The Moments feature provides the best of what’s happening on Twitter in real-time (around events, TV shows, and news), with a click of a button.
So what should Twitter’s CEO focus on? “He is just getting started”.
His predecessor Dick Costolo has tweeted his approval of the appointment, describing Dorsey as a “calm and thoughtful leader”.
Dorsey wasn’t considered the front-runner until recently.
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Twitter said it would separate the roles of chairman of the board and CEO, and that the search for a new chairman remains ongoing.
