As Twitter stock hits new low, "sources" leak that Shonda Rhimes might be about to join the board
Well, wouldn't ya know it.
Just as Twitter's stock hits a record new low -- of the back of rumors that the company is going to make yet another unpopular product tweak -- along comes yet another media leak designed to try to reverse the decline. It's almost as if the leaks are coming from someone with a vested interest in keeping their stock out of the toilet, at least temporarily.
This time the leaked news -- handed to Re/Code -- is that Twitter might be about to announce its hotly anticipated new board members! Just in time for the company's fourth quarter earnings tomorrow!
According to Re/Code's mystery sources, one name hotly tipped for the board is superstar TV producer Shonda Rhimes...
[A] name like Rhimes is not such a reach — unlike a lot of the board, she is an active Twitter user and also a canny business exec, as well as a media powerhouse...
One thing has been clear in the director search: Dorsey has been trying to diversify and reinvigorate the Twitter board, hoping that fresh thinking will give the company a much-needed shot of energy. Indeed, the board has largely been homogenous over the years — which is to say pretty much a group of white men (and only one woman).
Exciting stuff, and Rhimes would indeed be a good choice, although possibly not enough to reverse the stock decline. At the time of the writing Twitter was hovering just below its opening price of 15.21. As a reminder, its IPO price was $26.
Depending on the reaction to the company's earnings tomorrow, we look forward to more rumored board additions: Barack Obama, Jennifer Lawrence, the Dalai Lama and Jesus Christ himself.
Still, there's not even a whisper that the one person the company definitely does need -- its CEO -- might quit his part-time job at Square and actually start working "day and night" to fix Twitter.
How to get away with murder, indeed.