Twitter CEO Dick Costolo has decided to step down from his position
effective July 1. He, however, will remain on the company’s Board of
Directors. Co-founder and Chairman Jack Dorsey will assume the role of interim
CEO till Twitter finds a permanent replacement – the company has formed a
search committee, and said it would consider both internal and external
candidates. For those who aren’t aware, Dorsey also co-founded payments
start-up Square.
“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,” said
Costolo, who became CEO in October 2010.
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