Friday Buzz: Twitter’s Complicated CEO Transition
The departure of Twitter CEO Dick Costolo comes with a transition process that could raise bigger questions. Also: Some considerations for offsite meetings.
Twitter’s CEO transition process is hard to describe in just 140 characters.
The big news in the world of Twitter came Thursday from the very top—with longtime CEO Dick Costolo stepping down from his role [PDF].
Dick Costolo to step down as CEO, will remain on Board, and Jack Dorsey appointed Interim CEO, effective July 1— TwitterIR (@TwitterIR) June 11, 2015
But the real eyebrow-raiser is the transition process from Costolo to a new leader. Costolo’s been replaced (for now) by interim CEO and board chairman Jack Dorsey, who helped found Twitter back in 2006. Problem is, Dorsey is already busy with his CEO role at another company, the payment processor Square. So that makes things complicated if—as many expect—the goal is to bring Dorsey back to Twitter as CEO.
Business Insider editor Henry Blodget notes that both sides “have an easy, face-saving out” in case it doesn’t work. On the other hand, the process raises some big questions that could hurt the company’s momentum moving forward.
“The trouble and risk with the interim plan is that it means the company’s purgatory period will continue,” Blodget writes. “For the past six months, Twitter and its employees have already had to deal with the distraction of reports and speculation that former CEO Dick Costolo was about to be canned. Now it will have to deal with questions about how long Jack Dorsey will be around.”
But one positive from the process, Fortune explains, is that Costolo was open about wanting to make the transition on his own terms.
“The scrutiny of the company would intensify if I remained CEO while the search process takes place,” he said in a conference call.
Because Costolo quit, he won’t get a severance package.
Infographic of the Day
Are in-office meetings not having quite the effect with staff that you’d hoped? This infographic from Noah’s Event Venue, discussing the effectiveness of offsite meetings, might offer some useful food for thought:
Other Links of Note
Does your site search stink? If so, your association might be shooing away users, CMS Wire says.
Also on the Twitter front, the company has finally decided to get rid of the 140-character limit on direct messages, making them a bit more useful.
If you’re a BlackBerry user, this news might surprise you: The company is reportedly talking about ditching its own operating system in favor of Android.
Departing Twitter CEO Dick Costolo. (Justin Sullivan/Getty Images)