Harvard Professor Finds Similarity Between BlackBerry Ltd (BBRY) And Twitter Inc (TWTR)
Close on the heels of Twitter Inc (NYSE:TWTR)’s Dick Costolo decision to step down from the CEO position, Harvard professor, Bill George, said that the company is becoming a BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) of social media rapidly. He urged the need to speed up things quickly in an obvious reference to boost investors’ sentiments towards the company. Some investors’ have been clamoring the exit of Costolo from the CEO position for failing to match with the rivals’ performance.
The Harvard professor also counseled Twitter Inc (NYSE:TWTR) to engage in a clean sweep so as to prevent a total downfall of the company. George was a former CEO of Medtronic besides sits on the board of directors of different companies. That included Goldman Sachs Group Inc (NYSE:GS) and Exxon Mobil Corporation (NYSE:XOM).
George compared both Twitter and Blackberry and said that the social media firm is at the risk of going the way BlackBerry once did. That is from a leadership position in the industry to obsolescence. In the past, he has expressed his displeasure over the social media firm’s struggle to boost the user base. He was one of those to urge the company to bring outside the talent to be innovative so that the company could find new ways of growth opportunities. He cited the examples of Google Inc (NASDAQ:GOOGL) and Facebook Inc (NASDAQ:FB) for bringing in innovative leaders.
No Search Committee
Twitter Inc (NYSE:TWTR) has named its Chairman and co-founder, Jack Dorsey, as its interim CEO. However, George said that he was at a loss to understand as to why the company has not even named a search committee until now. He said that if they continued the same path, it would not be good for the company at all.
The Harvard professor urged Twitter Inc (NYSE:TWTR)’s Dorsey to be out quickly. The reports suggest that the company is not ready for a fresh beginning and that the chances of Dorsey remaining the permanent CEO are bright. The tactics adopted by the social media appeared to be same that of BlackBerry Ltd (NASDAQ:BBRY) before they brought in John Chen as CEO towards the end of 2013.
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