Last week, Twitter announced that CEO Dick Costolo would be stepping down, surprising no one. Costolo’s last day is June 30, and on July 1 co-founder Jack Dorsey will take the reigns – on an interim basis.
The company’s Board of Directors just sent a very pointed and very public message to Jack Dorsey: we’re only looking for a full-time CEO.
In a press release, here’s what the Board had to say:
The Committee will only consider candidates for recommendation to the full Board who are in a position to make a full-time commitment to Twitter. The search is proceeding with a sense of urgency but the Committee will take the time necessary to find the right CEO to lead the next phase of Twitter’s growth.
Can’t get much clearer than that. If Jack Dorsey wants to be the next permanent Twitter CEO, he’s going to have to give up his position at Square.
“The Board has the utmost confidence in the strong management team Dick has assembled and in Jack Dorsey’s ability to lead the company on an interim basis while we identify a permanent CEO. We are confident in Twitter’s product roadmap and excited by the current pipeline. We also believe much more can be done to realize Twitter’s enormous unmet long-term potential. In our next CEO, we are looking for a bold thinker and proven leader capable of helping Twitter fully capitalize on its unique platform for the benefit of users, advertisers and employees, and to maximize value for investors in the years ahead,” said Peter Currie, Twitter’s Lead Independent Director and Chair of the Search Committee.
But what has Dorsey said about this?
“As I said last week, I’m as committed as ever to Square and its continued success,” Dorsey said in the statement. “I’m Square CEO and that won’t change.”
Dorsey has mostly dodged questions about his future at both companies – saying it’s “not his focus”. But he has refused to outright deny that his role is more than interim. And when you think about it, it’s hard to imagine someone else taking the reigns.
It looks like Dorsey has a big decision to make.
Image via Jack Dorsey, Twitter