Twitter (NYSE:TWTR) finally has a permanent CEO. Three months after Dick Costolo resigned and co-founder Jack Dorsey took the helm as interim CEO, the board approved Dorsey to take on the job full-time.
Jack Dorsey is ready to save Twitter. But is he the right person for the job? Some have likened Dorsey's return to the return of Steve Jobs to his beloved apple. “Like the Apple co-founder, Dorsey was the impetuous, petulant CEO pushed out by his allies. And after a soul-searching exile, he's welcomed back as the savior to a troubled enterprise.”
Is Dorsey really the Steve Jobs of Twitter? Let's take a look.
Why Dorsey was fired
Unlike Jobs, Dorsey was never fully focused on Twitter. Leading up to his firing in 2008, Dorsey could never keep his head in the game. His extracurricular hobbies, including sewing and drawing classes and constant partying made his co-workers feel like he wasn't serious. He also lacked communication with Twitter's investors and alienated the board of directors.
When the board replaced him with Evan Williams in 2008, he was furious. According to the book, Hatching Twitter, Dorsey received a “passive chairman role and silent board seat” — a simple token with no actual value. Dorsey then launched a whisper campaign among the board and company employees to get Williams sacked and get Dorsey back on Board.
Creating an image of Jobs
During that same time, Dorsey founded Square, a mobile payment company. In true Jobs fashion, he began to mimic Jobs's mannerisms, design principles and vocabulary. In 2010, his whisper campaign worked. Costolo was brought on board as CEO replacing Williams and Dorsey was made executive chairman.
Now that Dorsey is back as permanent CEO for Twitter, he plans to remain CEO of Square — just like Jobs remained CEO of Pixar, the company he founded after he was ousted as Apple CEO. Square plans to go public in the near future, and the concern of whether Dorsey can focus on one thing at a time remains.