Twitter has announced that Dick Costolo is stepping down as CEO, the company’s board of directors has named Jack Dorsey as interim CEO whilst the next one is found.
Dick Costolo will step down as CEO of Twitter on the 1st of July 2015, although he will remain on the board of directors, he had the following to say about his resignation.
“I am tremendously proud of the Twitter team and all that the team has accomplished together during my six years with the Company. We have great leaders who work well together and a clear strategy that informs our objectives and priorities. 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.”
Twitter will now start to look for a new CEO and Twitter co-founder Jack Dorsey will step in as interim CEO until a replacement is found.