Chris Sacca: Twitter Needs to Make Dorsey CEO, Get New Board

Opinionated Twitter investor Chris Sacca is at it again: Sacca took to Twitter Friday, proclaiming that the company should finally end its CEO search. “Enough is enough. The board needs to act. They are running a ‘process’ yet there is only one person fit to run this company,” he tweeted, adding that this one person was Twitter co-founder Jack Dorsey.

This isn’t the first time Sacca has thrown his support behind Dorsey. In early August, Sacca officially endorsed Dorsey for CEO, saying at the time that he had the product vision necessary to turn things around for Twitter.

Twitter officially began the search for a new permanent CEO when former CEO Dick Costolo stepped down from his post in June. Dorsey has been leading the company as interim CEO since July, and a search committee has been looking both at internal and external candidates. Last week, news surfaced that one of those approached for the job included CBS Interactive CEO Jim Lanzone.

However, both investors like Sacca and sources close to the company have long insisted that Dorsey is an almost inevitable choice — save for one little problem: Dorsey is also the CEO of payment processing company Square, which is gearing up to go public in the coming months.

Twitter’s board early on insisted that the company needs a full-time CEO. On Friday, Sacca said that this was a mistake. “The market knows that (Dorsey) has such strong teams at both Square and Twitter that he can run both companies. This is settled,” he tweeted.

Sacca went on to argue that Twitter doesn’t have a leadership problem, but a board problem: “The Twitter board needs to be refreshed with people who have actual skin the in the game,” he tweeted, adding: “The stock market has already assumed (Dorsey) will be CEO. What’s killed the stock is board inaction.”

Twitter’s stock has had a rough ride in recent months, at times dropping below its IPO price. Investors haven’t just been confused by the prolonged CEO search, but also have felt anxious about the future of the company as the growth of monthly active users has come to a halt.

Twitter is expected to unveil new features and a new marketing campaign in the coming weeks to win over new and long-lost users.

More Digital

  • Fortnite Battle Royale

    How 'Fortnite' Fans Can Earn Loot by Watching YouTube Videos

    Epic Games and YouTube have teamed up with a special offer for “Fortnite” players — giving players of the popular battle-royale game rewards when they watch “Fortnite”-premiered content on the video platform. The catch: You have to watch at least 20 minutes of “Fortnite” special content or live esports broadcasts to receive the loot. Under [...]

  • Roku headquarters

    Roku Plans to Expand to Brazil, Other Countries (EXCLUSIVE)

    Roku plans to expand to multiple new territories in the coming months, Variety has learned. One of the first new markets for the company will likely be Brazil. An international expansion could help Roku grow its customer base, which in turn should lead to growing advertising revenues. Roku executives have been hinting at plans to [...]

  • Google Stadia Pro to Include 1

    Google’s Stadia Game Streaming Service to Include Free Monthly Game

    Google has been busy sharing additional details about its upcoming game streaming service Stadia, clearing up some confusion in the process. Stadia’s pro subscription tier, which will cost $10 per month, won’t be a Netflix-type subscription service. However, subscribers will get free games at the rate of about a title per month. That’s according to [...]

  • Crypt-TV-Facebook

    Facebook Signs Deal With Crypt TV for Slate of Five Horror Series

    Crypt TV, the digital studio founded by Eli Roth and Jack Davis and backed by Jason Blum, expanded its deal with Facebook, inking a content partnership to create a slate of five horror and monster-themed series exclusively for Facebook Watch. For Facebook Watch, it’s one of the first deals for a full slate of content [...]

  • Elaine Paul - Amazon Studios

    Elaine Paul Exits as Hulu CFO to Join Amazon Studios

    Elaine Paul has departed Hulu after nearly six years as chief financial officer to join Amazon Studios as CFO/VP of finance. She started at the ecommerce company’s studio division on July 15, reporting to Dan Jedda, VP of digital, advertising and corporate development finance for Amazon, a company rep said. Paul’s move to Amazon, first [...]

  • BritBox to Roll Out in the

    'Downton Abbey' and 'The Office' Heading to BritBox as Streamer Unveils U.K. Launch

    British broadcasters the BBC and ITV have formally agreed to launch their joint streaming service, BritBox, in the U.K. in the fourth quarter of 2019. It will be priced at £5.99 ($7.50) per month, making it the same price as the cheapest Netflix subscription in the U.K. ITV will control BritBox, holding a 90% stake. [...]

  • Vobile - ZEFR acquisition - Yangbin

    Zefr Sells Its Copyright-Flagging and YouTube Channel-Management Businesses to Vobile for $90 Million

    Vobile Group, a video protection and measurement company, announced a deal to acquire Zefr’s RightsID copyright-management and ChannelID YouTube channel-management businesses for about $90 million. According to the companies, Zefr’s RightsID and ChannelID together generated over $40 million in revenue in 2018 and were profitable. The deal stands to more than triple the revenue for [...]

More From Our Brands

Access exclusive content