Twitter CEO Dick Costolo Stepping Down, Jack Dorsey Named intervening time CEO

You don’t have Dick to kick around to any extent further — Dick Costolo as CEO of Twitter, that’s. reasonably described as embattled over the past few months, Twitter introduced that Costolo is stepping down, with Twitter cofounder and current chair Jack Dorsey to take over as period in-between CEO as of July 1.

Twitter tweeted the news today:

The tweet references a “Twitter Initiates CEO Transition” press free up (PDF). the discharge can also be found right here. It explains that

• Costolo will remain a board member at Twitter
• Dorsey will stay CEO of square whilst he takes over as interim Twitter CEO
• A search for a permanent replacement CEO will happen

From the discharge, Costolo said:

i am tremendously happy with the Twitter staff and all that the crew has finished collectively all through my six years with the company. we’ve got great leaders who work well together and a clear technique that informs our objectives and priorities.

there is not any one higher than Jack Dorsey to steer Twitter all over this transition. He has a profound working out of the product and Twitter’s mission on the earth as well as a really perfect relationship with Twitter’s management team.

i’m deeply appreciative of the confidence the Board, the administration staff and the employees have placed in me over the years, and i stay up for aiding Twitter alternatively i will be able to going forward

Costolo additionally welcomed Dorsey, as it should be sufficient, with a tweet:

also from the release, a statement from Dorsey:

“the future belongs to Twitter thanks largely to Dick Costolo’s dedication and vision. Dick has put an international-­classification workforce in position and created a really perfect foundation from which Twitter can continue to vary the sector and grow. now we have a thrilling lineup of merchandise and initiatives coming to market, and that i look forward to continuing to execute our technique while serving to facilitate a smooth transition as the Board conducts its search.

i’m grateful for the proficient workforce at sq., which i’ll proceed to guide. we have constructed an extraordinarily strong firm from high to backside, and i am as committed as ever to its persevered success.

Paul Stamatiou, a dressmaker for Twitter Video, tweeted this picture of Costolo getting a standing ovation at Twitter’s San Francisco headquarters, when the news apparently used to be shared with workers there:

Costolo has come under rising drive over the past few months, as Twitter’s efficiency has dissatisfied Wall street.

Twitter is webhosting a conference call nowadays at 2:15pm PT to reply to questions concerning the transition, that we’ll reside weblog right here on advertising Land. any person can submit questions by means of tweeting to @TwitterIR or the use of the hashtag #TWTRannouncement. that you could additionally listen to the webcast by the use of this page.

concerning the writer

Danny Sullivan

Danny Sullivan is a Founding Editor of selling Land. He’s a widely cited authority on serps and search advertising and marketing considerations who has covered the gap on the grounds that 1996. Danny additionally serves as Chief content material Officer for third Door Media, which publishes marketing Land and produces the SMX: Search advertising and marketing Expo convention sequence. He has a non-public blog known as Daggle (and keeps his disclosures page there). He can also be discovered on facebook, Google + and microblogs on Twitter as @dannysullivan.

(Some images used beneath license from Shutterstock.com.)