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Looks like Twitter is finally getting ready to choose its dream CEO
(Jack Dorsey/Scott Olson/Getty Images, Anthony Noto/Scott Olson/Getty Images, Adam Bain/TWitter, /BI)
Who will get the rose to be Twitter's next CEO?
Has Twitter finally found its dream CEO?
After nearly three months of searching for the right person, the struggling social networking company may be ready to make a decision, according to some recent reports.
A report by SunTrust analyst Robert Peck said the announcement of a new CEO could come as soon as this week, which is now drawing to a close.
That report said the most likely scenario would involve Twitter co-founder Jack Dorsey getting the nod for the top job, even though he will have to do double-duty and continue as CEO of digital payments company Square.
To bolster the team, Twitter would apparently make revenue boss Adam Bain President, while Evan Williams, another Twitter co-founder, will become Chairman of the board. That so-called "triumvirate" arrangement gained currency when influential Twitter investor Chris Sacca publicly endorsed it earlier this month.
Twitter's stock, which has been crushed in recent months and dipped below its $26 IPO price for the first time on Thursday, was actually trading up 17 cents on Friday even as the broader market suffered from a big selloff.
A report in LearnBonds on Friday says the "rumor on the Street" is that the announcement of the new CEO will come before the market opens on Monday, though it cited no real sources.
With morale running dangerously low at Twitter and investors bearish on the company, Twitter needs a permanent CEO to win back trust and to chart a new strategy that can revive its stalled user growth.
Twitter's previous CEO, Dick Costolo, resigned in June. Since then, Twitter's board of directors has hired executive recruiter Spencer Stuart to suss out good candidates inside and outside the company. But the list of outside candidates does not appear to have gotten very much traction in the process, while Bain and Dorsey have been cited as the two insiders with the best chance of getting the job.
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