Twitter CEO Says Board Changes “Not Some Ninja Move”
Dick Costolo on Monday rejected the idea that the reshaping of his company’s board was a bold move to reduce the power of existing investors.
Speaking at the D: Dive Into Media conference, the Twitter CEO said the changes to the board had more to do with shrinking the number of directors than it did with “some ninja move” on his part.
“The reality is much more boring than that,” Costolo said, responding to a PandoDaily article on the subject.
Asked about whether Twitter will follow Facebook in going public, Costolo said that his focus remains on building a business that is going to be around 10 years from now.
Although Costolo said the company has to be aware of regulations that might force it to go public, such as when it has a certain number of shareholders, he is not worried about whether there might only be a narrow window to go public.
“I don’t pay any attention to that,” he said.
The company has continued to remain private, he said, and declined to say when it might go public.
“I choose not to answer that question,” he said.