The “Find a CEO for Twitter” saga is about to reach its end, as Jack Dorsey, the current interim CEO and also co-founder of the social network , is ready to step up as and finally occupy the highest position.
According to Immortal News, the main aspect which was holding Jack Dorsey back from making this step forward is the fact that he is also the CEO of Square, a company focused on digital payments.
Apparently, Mr. Dorsey would be in charge at both companies in the near futures. Square is also expected to be filed for initial public offering soon, beginning to sell business-focused services, besides the payments system they’re already offering.
Jordan McKee, analyst at 451 Research considers that this won’t be such a great move, since Jack Dorsey’s attention for Square will be quickly diminished, focusing just on Twitter.
“It is concerning that Square is at a transformational point, just as the company is starting to introduce new services. It needs a focused leader that can guide the company through this sea change”, McKee said.
Still, this wouldn’t be the first time when Jack Dorsey tries to handle both Twitter and Square. It already happened back in 2011, but things didn’t go as planned, since at that time, the digital payments company’s first major product was unveiled, while Twitter was presenting the new Discover tab.
As expected, he decided that Square needs more attention, so in 2012, he left Twitter, in order to return, three years later.
Currently, the social network is suffering from a stagnant user growth, while the stock has fallen with more than 40%, but everybody hopes that the appointment of Jack Dorsey as CEO will be the solution for the company’s problems.