Twit­ter’s CEO Steps Down

ArabAd - - PEOPLE -

Twit­ter’s Chief Ex­ec­u­tive Of­fi­cer has de­cided to step down, ef­fec­tive July 1, 2015. Twit­ter’s Board of Di­rec­tors has named

Co-founder of Twit­ter and Chair­man of the Board, to serve as In­terim CEO while the Board con­ducts a search for Twit­ter’s next CEO. Cos­tolo will con­tinue to serve on Twit­ter’s Board of Di­rec­tors, and Dorsey will con­tinue to serve as CEO of Square, Inc., the pay­ments and financial ser­vices com­pany he co-founded in 2009. Co-founder Dorsey held the po­si­tion of CEO of the mi­cro-blog­ging site un­til he had been pushed out of the po­si­tion in 2008. Twit­ter’s Board has formed a Search Com­mit­tee to lead the search for a per­ma­nent CEO and will con­sider both in­ter­nal and ex­ter­nal can­di­dates for the po­si­tion. Dorsey said, “The fu­ture be­longs to Twit­ter thanks in large part to Dick Cos­tolo’s ded­i­ca­tion and vi­sion. Dick has put a world-class team in place and cre­ated a great foundation from which Twit­ter can con­tinue to change the world and grow. We have an ex­cit­ing lineup of prod­ucts and ini­tia­tives com­ing to mar­ket, and I look for­ward to con­tin­u­ing to ex­e­cute our strat­egy while help­ing fa­cil­i­tate a smooth tran­si­tion as the Board con­ducts its search.”


Dick Cos­tolo


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