The winds of change are reportedly brewing at Twitter. Of course we knew that already – it was only last June that Dick Costolo quit the role of CEO, and the company is still searching for a replacement. But there could be bigger changes afoot, if the latest reports are anything to go by.

Bloomberg yesterday reported on Twitter’s CEO hunt, saying that the micro-blogging site is coming under increasing pressure to settle on a candidate from shareholders, who’re getting jittery about the company’s declining share price. Twitter’s shares have slumped by 22 percent since Costolo jumped ship, and his departure has been followed by those of several key executives, which has done little to harbor any confidence.

“The board needs to take some action and communicate it to shareholders,” Jo-Ellen Pozner, an expert in corporate governance and organizational misconduct from the University of California, told Bloomberg. “There’s a huge amount of uncertainty, which creates a really uncomfortable feeling for shareholders and internal stakeholders.”

Twitter’s problem is that whoever it does appoint, is going to be a key appointment. Therefore it needs to make sure it lands the right man or woman for the job. Business Insider reports that Twitter’s board will meet this week to discuss some of the favorite candidates, which include CBS Interative boss Jim Lanzone, ex-Cisco Systems Ltd. executive Padmasree Warrior, and the current interim CEO Jack Dorsey.

But Business Insider goes further in a separate report, dragging up old speculation that Twitter might be about to be acquired. It cites the latest App Annie list of top iOS app downloads, where Twitter comes in at ninth place, as evidence.

“Google purchasing the company would not only benefit its search and social ambitions, but also increase its foothold on iOS,” the report notes. “Facebook, which owns four of the top apps including its eponymous social network, is all about its advertising business and Twitter would be another popular-enough option that would appeal to advertisers.”

In other words, Twitter is a big draw for both companies. Furthermore, Business Insider claims that both companies have already sounded out Twitter regarding a possible takeover.

Of course all of this remains little more than speculation, but if acquisition talks really are afoot, that might certainly explain why Twitter has been slow to nominate a CEO and upset its shareholders in the process.

Image credit: PublicDomainPictures via Pixabay.com