Twitter Is Worth $23.5 Billion and New CEO Will Have Large Shoes to Fill

Twitter
Twitter’s chief executive, Dick Costolo, recently announced his departure from the company and the search is on for a new CEO. The question of who will fill his very large shoes remains and considering that running Twitter, which is a $23.5 billion company, is no easy task, the new head honcho will have to be someone worthy and up to the challenge. USA Today said that whoever takes over will probably need product and advertising experience to be successful in this venture. Also, the new CEO should have previously held a top spot in a major company previously.

The expectation is that it will take a while to find someone skilled enough for the position. The article pointed out that there is a very short list of people who could do well at this job and it will take some time to find the right person. Even once the right person is found, the odds are that it will take them over a year to find their footing with the company and be at ease within the job. It is a hard job and not everyone could do it.

Twitter

Mark Mahaney who is an internet analyst spoke of what a great opportunity this position could be for the right person. He said that the company continues to grow every day and it now reaches 300 million people or more. He added that it will grow even more over time. The company is a huge success and something many would want to be a part of.

Costolo final day with the company is expected to be July 1 and Jack Dorsey will serve as an interim chief executive until a replacement is found. Dorsey is one of the co-founders of Twitter. Shareholders have been pressuring the company to find a replacement since right after they found out about Costolo’s impending departure. Investors and advertisers are concerned about Twitter’s future and whether or not it can continue to grow after Costolo leaves and changes come about. The new CEO of the $23.5 billion company will definitely have very large shoes to fill and have to step up their game.

Apparently, Costolo has been considering leaving his position for a while now. He will remain on the board of directors along with two of the other former CEO’s. It has been speculated that Anthony Noto, who is the current CFO, might replace Costolo as CEO. Whether or not this is the case, the new person in charge has to be someone who can convince people to keep coming back to Twitter and what the purpose of it is.

Twitter

According to the article, Twitter only has one-fifth of the users of Facebook. People like to go on Facebook to connect with friends and family. The goal right now is changing things in terms of Twitter and broadening the way that it can be used. The company is worth around $23.5 billion and has made progress over time, but there is always room for improvement and growth. The company does have an ad partnership with Google, but many are left wondering how much the advertisements are actually engaging users.

The Business Insider said that Jack Dorsey is the top contender for the job and would be an asset in the position. The article said that he is the only logical choice in that he is so product-oriented. The article added that Dorsey has what it takes to reach a larger audience and make Twitter more appealing to potential and current users. If Dorsey does take over the role, he will have very large shoes to fill. Having the top spot in Twitter is no easy job, so the leader has to be someone who will be up to the challenge and can think outside of the box.

By Heather Granruth
Edited By Leigh Haugh

Sources:
The Business Insider: Jack Dorsey Is the Only Person Who Can Be Twitter’s Next CEO
CBC News: Twitter CEO’s Departure Raises Questions About the Future
USA Today: Twitter Will Have Tough Time Finding New CEO
Photo Courtesy of Spencer E Holtaway’s Flickr Page – Creative Commons License
Photo Courtesy of Tech Crunch’s Flickr Page – Creative Commons License
Photo Courtesy of Brian Caldwell’s Flickr Page – Creative Commons License

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