Twitter’s board is leaning towards picking an insider to be the company’s next CEO, and the company’s revenue boss Adam Bain is under more serious consideration than anyone on the very short list of outsiders, according to a person familiar with the matter.
Bain is the “number one candidate that the board is focused on right now,” this person said. “It’s Bain’s to accept or reject.”
Some of the most commonly floated names of outside CEO candidates, including Flipboard’s Mike McCue, are not currently under consideration, this person said. There are currently no more than three outside candidates currently under review, we also heard.
The Internet company’s CEO search process kicked off in earnest two weeks ago when the board hired headhunting firm Spencer Stuart.
Twitter declined to comment on the CEO search process.
We haven’t found out who the outside candidates under consideration are. But according to this person, some of the commonly floated names such as Flipboard’s McCue, Google’s Neal Mohan, Instagram’s Kevin Systrom and Ross Levinsohn, who once served as interim CEO of Yahoo, are not currently under consideration.
Twitter co-founder Jack Dorsey took the reins as interim CEO earlier this month after Dick Costolo stepped down, ending a six-year run that saw the company grow from a no-revenue startup to a publicly listed company. The company has come under increasing Wall Street pressure during the past year however, as use growth stalls and financial performance disappoints.
There was initially speculation that Dorsey could be angling for the permanent CEO job. But the fact that he already has another full-time job as the CEO of digital payments company Square has apparently ruled him out, to judge by a recent statement by Twitter’s board of directors.
“The committee will only consider candidates for recommendation to the full Board who are in a position to make a full-time commitment to Twitter,” the company’s board of directors said in a statement last month, noting that it was conducting a “thorough” search that would include both internal and external candidates.