Twitter CEO Dick Costolo is having something of an annus horribilis.
Twitter’s stock is down 40 percent for the year. Interest in the platform is declining worldwide. When Costolo’s family trust sold the last of their Twitter shares earlier this month, investors didn’t like it – so much so that Twitter’s stock price rallied when rumours started to circulate that he was stepping down.
Now, Harvard Business School professor Bill George is calling for Costolo’s head, and it might be the straw that breaks the camel’s back.
Speaking to CNBC on Friday, George was openly critical about Costolo’s situation at Twitter.
“It’s time for him to go,” George said. “You need a new team at the top.”
“Costolo is not a product guy. He’s a consultant. He doesn’t really understand product the way a Larry Page or a Mark Zuckerberg does.”
George was also dismissive of Twitter’s business model.
“The advertising is very hard to use and it’s not very apparent – they’re almost against advertising – and so I don’t think they have a sound business model.”
“How long can the Street stay with them with these losses?”
George followed up his CNBC interview with a tweet.
“Time for new leadership @twitter,” he wrote. “Otherwise TWTR loses out to FB & Goog.”