Twitter (NYSE:TWTR) is desperately in need of a new CEO and Sheryl Sandberg, who is currently the COO of Facebook (NASDAQ:FB) could be the right person for the job. But before that, Twitter (NYSE:TWTR)’s quarterly results must be taken into account. On 27th October, 2014, it reported its quarterly loss for the third quarter. Twitter (NYSE:TWTR)’s investors were deeply frustrated because of the decreased activity of active users and an immense loss of $176 million.
Although the number of monthly users rose by 23 percent as compared to the same quarter last year yet the net loss for the company has also doubled since then. But to be reasonable, the report also had some uplifting news. The sales have multiplied and surpassed the statistics of analysts at around $361.3 million. Twitter (NYSE:TWTR)’s CEO, Dick Costolo is under a lot of pressure from the investors and he has been firing employees and bringing in new replacements for them.
Daniel Graf, who was hired six months ago as supervisor for Twitter (NYSE:TWTR)’s consumer products was replaced by Kevin Weil last week. Weil has been in the company for five years and is familiar with the internal workings of the company. Twitter (NYSE:TWTR)’s former chief operating officer, Ali Rowghani had to leave the company in June due to some internal rifts. One executive in the engineering department left the company last week.
Now Twitter (NYSE:TWTR) has a new officer heading the news section, a new head of engineering and a chief financial officer. This level of insecurity at the top proposes that Twitter (NYSE:TWTR)’s board is putting colossal weight on CEO Dick Costolo and he is unable to handle it. This resulted in the hiring of capable individuals who were brought in with great excitement and were asked to leave when the quarterly results weren’t favorable.
It seems like Costolo is incriminating others for his own inability to manage in these circumstances. Now, all people can think of is whether Sheryl Sandberg will be able to improve the situation rather than what Costolo is doing. Truth be told, Twitter (NYSE:TWTR) has been able to procure extremely gifted individuals but it is in dire need of a vision to guide it so that it can turn a profit. It also needs a transformation in the management and administration process that delivers predictable results.
In spite of the fact that Sandberg needs an incredibly specialized team, she has exhibited the capacity to work in an environment that showcases people who are under the impression that they are the most brilliant minds of this age. Sandberg has been an outstanding student throughout her academic years. She graduated summa cum laude with a bachelor’s degree in Economics. She was also awarded with the John H. Williams prize for being at the top of her graduating class. She got her M.B.A degree from Harvard Business School with the highest distinction.