Twitter continues to look for a new CEO; Would it be led by an Indian?

In June this year, we heard of Dick Costolo’s sudden resignation as CEO of Twitter. Soon after, Twitter co-founder Jack Dorsey, who was CEO at Twitter during its initial years, took charge at the San Francisco company, as it continued to look for a permanent replacement.

The move was met with remarkable investor optimism and enthusiasm, and drive Twitter shares up nearly 6 percent immediately after the announcement.

Back then, Dorsey and Costolo, both expressed confidence in the company’s direction and said the board isn’t seeking major changes. However, over the course of the past 3 months, Twitter stock fell 22 percent. To add to Twitter’s aches, several executives have quit the company.

According to a report in Bloomberg , since Twitter is heading towards an IPO, “Twitter’s board meets Thursday and plans to discuss the results from the search so far, said the people, who asked not to be named because the process is private. Investors are getting impatient for directors to make a decision, or at least give a detailed update on the process, said Colin Sebastian, an analyst at Robert W. Baird & Co.

“The company, its employees and certainly its shareholders are in a little bit of limbo,” Sebastian said. “That qualifies it as an urgent matter of business.” The crash in its stock price over the past few months have

The report added, “Twitter’s search firm, Spencer Stuart, has been reaching out to potential leaders, including former Cisco Systems Inc. executive Padmasree Warrior and CBS Interactive Inc.’s Jim Lanzone, according to people familiar with the matter. Some who were contacted don’t think they were seriously considered as candidates, given Dorsey’s position, said the people.”

If Padmasree Warrior takes over as Twitter CEO, it would be yet another prominent technology company being led by an Indian. Currently, Microsoft, Google, Adobe and several other technology companies are led by Indians.