Twitter CEO, Dick Costolo, steps down
TWITTER chief executive Dick Costolo is stepping down and will be replaced on an interim basis by co-founder Jack Dorsey, effective July 1.
TWITTER chief executive Dick Costolo is stepping down and will be replaced on an interim basis by co-founder Jack Dorsey, effective July 1, the company says.
The announcement comes with the one-to-many messaging platform struggling to boost its user base after a much-anticipated public offering in 2013.
Costolo will remain on the company’s board while chairman and co-founder Jack Dorsey will take the position on an interim basis. Twitter will look to fill the position both internally and externally.
In a statement released Thursday, Costolo said: “There is no one better than Jack Dorsey to lead Twitter during this transition. He has a profound understanding of the product and Twitter’s mission in the world as well as a great relationship with Twitter’s leadership team. I am deeply appreciative of the confidence the Board, the management team and the employees have placed in me over the years, and I look forward to supporting Twitter however I can going forward.”
Dorsey previously served as CEO from May 2007 to October 2008.