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Sacca: I expect immediate Twitter board turnover

Chris Sacca, Lowercase Capital founder and Twitter investor, said on Thursday that once the question of CEO is cleared up, there will be "immediate turnover" on the Twitter board of directors.

"One of the things that we've seen from Jack Dorsey over at Square is he is great at building a talented board full of smart, successful and challenging members who can keep the company moving at its best," Sacca told CNBC's "Squawk Alley."

"We don't have that at Twitter right now, and I think we're going to see that for sure."

Shares of Twitter were down more than 6 percent on Thursday as investors awaited the announcement of the company's next permanent CEO. Sacca said he is "highly confident" that interim CEO and Twitter founder Dorsey will get the permanent seat.

"This isn't a hypothetical situation, he's been back in charge of Twitter now for over a quarter and over that time we've seen the product road map accelerate dramatically," he said.

Sacca does not recommend anyone buy Twitter stock on faith at this time. Things will get better, he said, but results will take some time.

He was most vocal about changing board members, urging more women and people of color to be included.

"This board has been a disaster form the beginning. If you look at history of the company looking all the way back, it's the outside board members who fired both of the founders of this company. Those are the founders that took us from zero users to 200 million users in just a few years; since then we have seen professional managers come in and go sideways with this. And so yet again I'm not shocked, I'm upset as I have ever been, but I'm not shocked by this board continuing to screw it up," he said.