Twitter Inc (NYSE:TWTR) is going to release CEO Dick Costolo of his duties on July 1 and replace him with former CEO and co-founder Jack Dorsey for the time being. In the mean time users on the social network have put forward a bunch of other ideas about who should be the new CEO at the micro-blogging network.
Here’s a look at five of the worst picks that Twitter has made, though most of them were lighthearted, and why the people in question should not be asked to get put in charge of a $30 billion company any time in the near future.
The hip hop legend actually threw his own hat in the ring for the CEO job right after Dick Costolo said he was leaving the hot seat at Twitter. Snoop Dogg may not be the absolute worst choice for CEO on this list. The rapper has a whole lot of business experience, and he’s made huge money, unlike Twitter.
His social media efforts on Twitter have garnered him more than 12 million followers and his YouTube channel is also very very successful. Snoop Dogg produces GGN Hood News and his channel has more than 1 million subscribers, and a cumulative 431 million views.
That said, Snoop Dogg is not likely a good choice to stoke confidence in investors, and though Wall Street might embrace him for a couple of hours, given the way social media stocks trade, he’s not going to be a hit once the serious stuff rolls around.
Reddit’s CEO is in trouble right now because of the banning of one of the site’s popular fat-shaming forums. Some users on Twitter have seen that Dick Costolo has stepped down and are calling for Ms. Pao to follow suit and resign. Other see a more easy and direct path to get her out the door.
They are calling for Ms. Pao to be given the job at Twitter so that she might have reason to leave her post at Reddit.
Ms. Pao, needless to say, wouldn’t exactly be a good choice. She’s alienated a lot of Silicon Valley’s high and mighty in the past with her labor relations case against Kleiner Perkins. Her husband Buddy Fletcher was a hedge fund manager who is now accused of fraud after his fund collapsed.
Ellen Pao, whatever you might think of her, would be a very bad leader for Twitter. Luckily a few Twitter users aren’t going to sway the minds of the firm’s management.
@jimcramer I nominate Jim Cramer as the next CEO of Twitter. Are u up for the challenge, Cramer?
— Zarelli (@Zarelli) June 12, 2015
Jim Cramer has lots of advice for Twitter Inc, and a few of the social media firm’s users are looking to him to lead the firm in the days ahead. Cramer, though loved by many on Wall Street, probably isn’t the best choice for the job, however. He’s already in charge of one flailing internet company and many of his shareholders are none too happy about his busy schedule.
Mr. Cramer is in charge of TheStreet Inc. (NYSE:TST), but the business is nowhere near the same value it was a few years ago. The business owns multiple web publishing properties and is worth around $67 million. Shares are trading below $2 now, but were worth more than $16 just before the financial crisis.
Last year hedge fund Cannell Capital wrote to Mr. Cramer in a public letter asking him to either step down from his position at The Street or to leave his jobs at CNBC. The letter contended that Mr. Cramer doesn’t have enough time to do both jobs properly and he’s having trouble running The Street as a result.
Jim Cramer couldn’t possibly take on another job without making all of his shareholders very very angry, and the Mad Money star likely doesn’t want the stress of heading up Twitter. He sure would like the firm to change some of its policies, however.
Another of the big names in popular finance, some Twitter users today wondered why the Shark Tank star didn’t bring his talent to bear on the firm’s business.
@mcuban fast forward–11-10-15; group lead by Cuban make tender offer of $28 for twitter
— Keith Boyles 🇺🇸 (@keithboyles) June 12, 2015
Cuban made a splash in recent days after making the argument that social media was a dangerous habit for quite a lot of people. Mr. Cuban said in a video inc.om that people should delete their posts rather than letting them live on forever. He says that Twitter can be dangerous for a person’s future.
Cuban is telling people to stop giving their data away for free, and that’s the exact business model that Twitter Inc needs to follow in order to be successful. Cuban is backing an app, called Xpire that will expunge your Twitter history for you, and that’s not something that the CEO of Twitter should likely be involved in.
Hundreds of Twitter users have nominated themselves as CEO of the company in the hours since Mr. Costolo announced he would resign. A few of them might even be qualified to hold the job and with the way Twitter Inc is going right now, the firm may have few better ideas about who to give the job to.
Farhad Manjoo, a New York Times tech reported threw his hat in the ring, based on his love for the service, but he was far from the only one who applied for the job based on their love for Twitter itself.
Interim CEO Jack Dorsey was let go from the position before, and his time at the company was not marked with the kind of cash flow growth that those holding shares really want to see at the firm. There’s no doubt that there are a lot of qualified people out there who could turn Twitter into a thriving business, but it’s also clear that Twitter doesn’t really know who they are or where the firm is going to go from here.
Right now Mr. Dorsey will hold the fort while the company’s board goes through list after list of possible replacements for him at the top of the company. They might as well start by searching “Twitter CEO nominate” on the social network itself. That will give them a feel for the kind of candidates out there, and a place to start as they begin their arduous task of finding a new CEO today.
Maybe we can get Kanye to take the job?