Twitter and Square investor Chris Sacca urges Twitter's board to appoint Jack Dorsey CEO in tweetstorm again
Alexei Oreskovic / Business Insider : Tweets: @sacca , @sacca , @sacca , @sacca , @benedictevans , @sarahfrier , @dcurtis , @sarahfrier , @sacca , @sacca , @sacca , @sacca , @sacca , @sacca , @sacca , @sacca , @fmanjoo and @fmanjoo Tweets: Chris Sacca / @sacca : I admire the Twitter employees who have been working so hard despite that looming uncertainty. Chris Sacca / @sacca : Ask anyone who works at Twitter and they will tell you @jack is the leader that will take them to the next level. Chris Sacca / @sacca : For months, the board has either refused or been unable to declare a permanent CEO. Chris Sacca / @sacca : Enough is enough. The board needs to act. They are running a “process” yet there is only one person fit to run this company: @jack. Benedict Evans / @benedictevans : Is there any better reflection of Twitter than the CEO process? Sarah Frier / @sarahfrier : Dorsey has told people he's staying Square CEO: http://www.bloomberg.com/... Would TWTR board go back on their statement and let him do both? Dustin Curtis / @dcurtis : I have a lot of respect for @sacca. It's very difficult and risky for someone in his position to voice such harsh opinions. Glad he does. Sarah Frier / @sarahfrier : What we've written: TWTR Board would like Jack as CEO but wants him full-time, Jack wants to stay Square CEO. https://twitter.com/... Chris Sacca / @sacca : No. But the @Twitter board needs to be refreshed with people who have actual skin the in the game. https://twitter.com/... Chris Sacca / @sacca : It's hard to rally the public when the job is deemed temporary. If made permanent, I'm sure we will hear from him. https://twitter.com/... Chris Sacca / @sacca : Nope. @Square has a world-class CEO in @jack. Could others do it? Sure. (Disclosure: I'm a @square investor.) https://twitter.com/... Chris Sacca / @sacca : Under @jack's leadership the company has been shipping product again. The pace is up and employee morale is improving. Chris Sacca / @sacca : This isn't a hypothetical. @jack has been running both companies for months and both are doing great. https://twitter.com/... Chris Sacca / @sacca : You haven't read anywhere credible that @jack doesn't want the CEO role at Twitter. https://twitter.com/... Chris Sacca / @sacca : Bummer that @Twitter is only on track to do over $2 billion in revenue this year and growing high double digits. https://twitter.com/... Chris Sacca / @sacca : The stock market has already assumed @jack will be CEO. What's killed the stock is board inaction. https://twitter.com/... Farhad Manjoo / @fmanjoo : “And then they waited. And waited. And waited. A paralysis set in. Rigor mortis. Hibernation. Chrysalis. Then Jack Dorsey was named CEO.” Farhad Manjoo / @fmanjoo : I feel like unabomber is a really terrible nickname we should avoid http://www.businessinsider.com/ ...
Context & Ripple Effects
Jack Dorsey has been running both Twitter and Square for months while the Twitter board refuses or fails to name a permanent CEO — and Square's bankers have already drawn up IPO contingencies in case he leaves to run Twitter full-time (Square IPO preparations). Now investor Chris Sacca, who holds stakes in both companies, is publicly lobbying the board in a tweetstorm to install Dorsey permanently.
The intervention matters because it fuses two corporate timelines into one decision: Twitter's leadership vacuum and Square's pending offering, where analysts are already asking how a dual-CEO arrangement would affect the IPO and who would actually be running the company.
First-order effects
- The Twitter board comes under direct public pressure from a shareholder to end its refusal or paralysis and confirm Dorsey as permanent CEO, with Sacca arguing employees see him as 'the leader that will take them to the next level.'
- Square's IPO process gains a new variable: if Dorsey commits to Twitter, the banker contingency plans built around his departure move from hypothetical to operative.
Second-order effects
- If the board relents, Square must sell an IPO under a part-time founder-CEO, sharpening the governance questions already circulating ahead of its offering and forcing underwriters and investors to price the split attention.
- Sacca's public tweetstorm sets a template for shareholder activism conducted through social media itself, giving other large holders a playbook for bypassing private board channels.
Third-order effects
- The dual-company founder structure, if ratified here, becomes the standing fault line in Twitter's governance — the same tension resurfaces five years later when Elliott Management, reportedly with a ~4% stake, pressures Dorsey's position and allies rally to his defense (Elliott's campaign against Dorsey).
- Dorsey's eventual hands-off, delegating management style at Twitter — documented by employees years later — suggests the split-attention model the board was urged to accept carried lasting operational costs.
The trend: Founder-celebrity CEOs running multiple public companies simultaneously, sustained by investor loyalty rather than conventional governance, becoming a recurring source of shareholder activism.