Twitter is looking for a new boss: the American social network, after a triumphal entry into trouble in convincing Wall Street Stock Exchange, announced Thursday, June 11 Resignation of Director General Dick Costolo and his temporary replacement by one of its founders, Jack Dorsey. The departure of Dick Costolo, who was six years in Twitter including five at the controls, will be effective July 1, but will continue to serve on the Board of Directors. During a brief conference call with analysts Thursday, he said he was leaving on his own.
“It was my decision,” he assured. “I initiated a conversation with some members of the board at the end of last year on the succession to the post of Director General.” “This transition only from the decision of Dick’s move on,” insisted Jack Dorsey, noting that the group confirmed its forecast for the current quarter. He posted a priority “to ensure a smooth transition (…) and the continuation of the good work that Dick and his team in progress”, ensuring that there would be no big strategic change.
author first tweet
Author of the first “tweet”, the name of the messages in 140 characters posted on the social network, Jack Dorsey was also the first director general, between 2007 and 2008, and today remains chairman of the board. He is also the patron-founder of Square, a specialist in mobile payments, where he will continue in his current role. “I will continue to share my time between the two companies,” he said.
The duration of the transition remains uncertain hour. Jack Dorsey said that the search for a new permanent boss had not yet begun, and that it would take “the necessary time”. Twitter has announced the establishment of a search committee which will be associated with another of its co-founders, Evan Williams, and also intends to use a headhunter firm to achieve ” a global research, which will take into account candidates both internally and externally, “according to a statement.
” Unfortunately this news is not surprising, “said Nate Elliott, a Forrester analyst for which “ Twitter is not very good right now to serve its users, nor its advertisers”, partly because it is less innovative than other social networks . “It seems that about three quarters of people who have never registered on Twitter stopped using the service. There are only 18 months, Twitter was the main competitor of Facebook, now it has fallen behind Instagram, Pinterest and other social sites,” said the analyst, who also considers that “advertisers are more likely to buy ads on Facebook that Twitter . “
Always zero earnings
Rumors of a starting Dick Costolo had already circulated in recent months, amid investor concern about the slow growth in its number of users (302 million claimed in late March). The group, which has not released any net profit of the dollar, had also posted disappointing results in the first quarter with a turnover of less than its own forecasts and estimates for the rest of the year –Bra hopes analysts.
Reflecting investor concerns, the action Twitter ended the session at 35.84 dollars on Thursday night, far more than 70 dollars far it had flown in the weeks following the IPO in early November 2013. The announcement after the close of departure Dick Costolo, however, allowed him to return to 3.60% 9:45 p.m. GMT in electronic trading after-session.
(With AFP)
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