Its High Time Twitter Finds A New CEO
Twitter will further go down if they fail to find a new CEO.
Twitter Inc. is the most preferred social media network forum in the industry nowadays. The company is currently working on its features and interface in order to become the market leader in the near future. As it stands now, the social media platform trails Facebook, its archrival, by miles in terms of advertisements, revenues, and monthly active users.
Following that, the company also posted very poor and disappointed results that raised concerns among investors and shareholders. Therefore, after failing to revive the business, the previous CEO, Dick Costolo, resigned in company’s favor.
For the time being, Twitter replaced the former CEO with the co-founder of the company, Jack Dorsey, temporarily. However, it was said that he is not a full-time CEO and he denied the position for the future. It is now high time that the company finds a new CEO that will keep it going and revamp its business in the coming times.
An analyst at Sun Trust, Robinson Humphrey, stated that the company is at risk of ‘Brain Drain’. It is believed that many employees are leaving the company in order to join other tech companies or startups.
The blogging giant has not yet found a new CEO, which is creating troubles for it. According to Sun Trust Research, it stated, “In a competitive market, there is always an inherent risk of a brain drain. Nevertheless, large amounts of private capital raised by new startups have also aggravated this risk for Twitter during its CEO transition.”
The company’s head of corporate development, Rishi Garg, bid farewell at a very crucial time on June 26. He had a decent run in his tenure, as he set up the purchases of Niche and Periscope.
Sun Trust Research elaborated that the departure of Rishi Garg is not a concern or problem for the company; however, the following actions with the departure, i.e. departure of other talented employees, might trouble it.
Many other key employees that left include Ms. Jessica Verrilli, who was the director of corporate development and strategy, Jeff Sandquist, who was the global head of developers and platform relations, Amir Movafaghi, who was the Vice President of global business at Twitter, and Rachel Horwitz, who was the communications director.
Furthermore, The Verge reported, “other high profile executives may also resign, such as the company’s senior director of consumer marketing, Kate Jhaveri, if not promoted to the CMO position.”
Now, the social media corporation should focus on its priorities.