The focus in Twitter’s epic CEO search seems to be shifting from prospective candidates to the very people in charge of hiring the new CEO.
Suntrust analyst Robert Peck squarely put the blame for the prolonged CEO search on the company’s board in a note sent to investors this week, while also offering up an interesting strategy to renew the board: “We think that given the company’s turnaround position, it is imperative that the board members show engagement in the product,” Peck wrote, adding that board members are also more likely to act in the company’s interest if they own a substantial amount of shares.
The note went on to show how many shares each current board member owns, and how many times each has tweeted since joining the service. Two directors stood out for very little use of Twitter: Peter Currie, who is also a member of the CEO search committee, has only tweeted 98 times. Marjorie Scardino has penned just eight tweets since joining the service — a fact that the former Pearson CEO owns up to in her Twitter bio, which states that she is “still just (a) Twitter follower.”
That’s apparently not enough for Peck, who explained his rationale for looking at tweet counts this way: “While we know that tweets are not a perfect representation of engagement, we do think it is a fair analog and is instrumental in not only understanding the current product but also understanding where the product needs to evolve.”
Peck isn’t the only one looking for an overhaul of Twitter’s board. Last week, Twitter investor Chris Sacca argued the board is to blame for the prolonged search, adding: “The Twitter board needs to be refreshed with people who have actual skin the in the game.”
Twitter has been without a permanent CEO for more than 100 days now. The company is being led by interim CEO Jack Dorsey, and almost everyone seems to believe that his appointment to permanently lead the company is all but inevitable. That includes Peck, who called Dorsey “the most logical choice” in his note this week.