Jack Dorsey may soon have to choose between Twitter and Square.
In an press release issued this morning, Twitter's board said its CEO search committee "will only consider candidates for recommendation to the full Board who are in a position to make a full-time commitment to Twitter."
The soon-to-be interim Twitter CEO is currently also the CEO of Square and will be splitting his time between the two companies once he takes the reigns at Twitter. The statement sends a clear message to anyone wondering if Dorsey could run both companies long term: The time-splitting would have to come to an end if Dorsey is offered the full-time Twitter role and accepts.
The statement also all but confirms that Dorsey is a serious candidate to permanently replace outgoing CEO Dick Costolo.
The board (which Dorsey chairs) also said it will be retaining one of the top executive search firms in the country, Spencer Stuart, to assist with the search. Why is Twitter's board telling us all this? Seemingly to convey the message that it's conducting a real search and not a sham installation of Dorsey as CEO. If he wants it, he'll have to give up a lot to get it.