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Fly News Breaks for August 4, 2015
TWTR
Aug 4, 2015 | 07:20 EDT
After Twitter's stock sank as much as 7% yesterday, SunTrust says that worries about the company's CEO search contributed significantly to the decline. Specifically, investors are worried that the company's criteria for the new CEO are too stringent, according to the firm. SunTrust thinks that the most likely solution involves the company adopting a "triumvirate" management approach. Specifically, Jack Dorsey would become CEO while remaining CEO of Square, and Adam Bain would become President or COO and head the company's business operations. Finally, Ev Williams would take a more active role on the board and perhaps become chairman, the firm predicted. SunTrust believes that Twitter must find a new CEO quickly. It keeps a Neutral rating on the shares.
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