Twitter’s Jack Dorsey plans to continue being a dual CEO as tech firm struggles

Twitter’s stock took another big hit on Thursday, but CEO Jack Dorsey doesn’t plan to stop juggling two jobs anytime soon.

Dorsey, who is also CEO of mobile payment service Square, was asked during a conference call with analysts if he planned on continuing both jobs.

“This focus, and this team, allows me and gives me a lot of confidence I can continue to focus on the meaningful things at both companies and we have the right prioritization in front of us,” he said.

The 40-year-old tech mogul became Twitter’s permanent CEO in October 2015. Since then, the company has faced two rounds of layoffs and a string of executive departures.

And despite all the media attention around President Donald Trump’s tweeting, Twitter’s fourth-quarter revenue fell short of Wall Street’s expectations.

Twitter’s stock is currently down more than 9 percent at $16.86 per share.

[graphiq id=”8LVVDXfIphP” title=”Twitter Inc. (TWTR) Quarterly Revenue” width=”650″ height=”498″ url=”https://sw.graphiq.com/w/8LVVDXfIphP” frozen=”true”]

Some shareholders, including former Microsoft CEO Steve Ballmer, think it’s time for Dorsey to focus on Twitter full time.

“Running two companies is not the best idea,” Ballmer told CNBC. “And I’ll stand by the notion that Jack’s a very creative, innovative guy, as well evidenced by the fact that he started two amazing companies. … I give him credit for that, and I think now’s the time to focus down, at least from my perspective, on the stock I own.”

Photo: Jack Dorsey is interviewed on the floor of the New York Stock Exchange, Thursday, Nov. 19, 2015. (Richard Drew/AP)

 

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