Peter Currie, a Twitter board member, bought about 9,200 shares, roughly $250,000 in stock.
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Aside from Dorsey, other possible candidates for CEO include former Yahoo Inc CEO Ross Levinsohn; Mike McCue, CEO of newsreader app company Flipboard; Instagram founder Kevin Systrom; and Evan Williams, CEO of blogging website Medium, according to SunTrust Robinson Humphrey. “So I’m not reading too much into that”, Dorsey said.
The purchases are designed to shore up support from investors whose confidence in the company has wavered.
At the time of Twitter’s IPO, the company was heralded as a high-growth stock with the potential to be the next Facebook Inc. Jim Prosser, a spokesman for San Francisco-based Twitter, refused to comment about the matter. Currently, Jack Dorsey is leading the affairs of the microblogging company as interim CEO, and he is said to be interested in retaining the job on permanent terms. However, towards that end, Twitter will be letting go of Costolo, who resigned as its CEO but retained his board position. In an interview after Twitter’s earnings report, when asked if he would remain at Square, he was noncommittal.
Dorsey helped start Twitter in 2006 and was CEO before getting pushed out in 2008. The company is conducting a search for a leader that could last several months.
“Investing in Twitter’s future”, Dorsey wrote in a tweet.
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Twitter Inc(NYSE:TWTR) is considering a change in the lineup involving the exit of former Chief Executive Officer Dick Costolo, resources familiar to the affair claimed. The company, which processed 30bn in payments from its millions of merchant customers in 2014, has been expanding into areas such as business lending and payroll processing.
