Posted 06/23/2015 at 8:01 AM
Posted 2 years ago
In the wake of Dick Costolo’s resignation as CEO of Twitter, former co-founder and current CEO of mobile payment company Square, Jack Dorsey is set to be the interim CEO.
But it looks like this decision has made the social media company a bit antsy.
Amid speculation that Dorsey may seek to make his interim position permanent, the company announced on Monday that they have begun the process of looking for Costolo’s eventual replacement.
The first part of the process was the hiring of executive search firm Spencer Stuart.
Investors have grumbled about the situation, with one prominent investor being the most vocal of them all. Chris Sacca.
The longtime contributor to Twitter said that the recent changes and “specific statements about Twitter’s future crushed investor hopes and turned what could have been a very positive event for the company into a debilitating mess.”
Twitter addressed those concerns publicly, stating that it was moving with a “sense of urgency.”
The chair of the search committee, Peter Currie, expressed that the company had great confidence in Dorsey’s ability to keep them on course as they looked for a bold and dynamic figure to step into the CEO position.