Influential Twitter Investor Chris Sacca Endorses Jack Dorsey for CEO

Twitter hasn’t provided any updates about its CEO search as of late, but influential and outspoken Twitter investor Chris Sacca thinks the company needs to make a decision fast — and he also has a candidate in mind: Twitter should just make co-founder Jack Dorsey the permanent CEO, he said Friday in a series of tweets.

Dorsey stepped in as Twitter’s interim CEO when former chief executive Dick Costolo left the company at the end of June. Twitter has been struggling with little to no growth in recent quarters, and investors have punished the company, with the stock price falling to a new historic low of $27 on Friday.

Sacca has been a vocal critic of Twitter’s product execution efforts, saying that the company has failed to build a product that appeals to new users. On Friday he said that Dorsey is the best choice to attack those issues. “Twitter needs product vision, and (Dorsey) has that in spades,” he tweeted.

However, there is still one hurdle for Dorsey, even if he has the backing of Sacca and other investors: his second day job. Dorsey is also the CEO of payment processing company Square, which is getting ready to go public. Sacca said Friday that he could see Dorsey keep both jobs, but Square may already be exploring alternative options. Bloomberg reported Friday that bankers involved in Square’s IPO plans are pondering a delay of the listing, should Dorsey leave for Twitter.

 

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