Twitter appoints Jack Dorsey as permanent CEO, Dick Costolo resigns from board
It’s official: Jack Dorsey is Twitter’s new CEO.
Twitter’s board has decided to strip the ‘interim’ from his title, officially making him the chief executive of the platform effective immediately. Dorsey, who co-founded Twitter in 2006, will also remain as the CEO of e-commerce startup Square. The move comes nearly a week after Recode first reported the news.
“My focus is to build teams that move fast and learn faster,” Dorsey tweeted this morning. “In the past 3 months, we have increased our speed and urgency at both companies.”
He added:
Twitter is the most powerful communications tool of our time. It shows everything the world is saying rn…10-15 minutes before anything else.
— Jack (@jack) October 5, 2015
We’re working hard at Twitter to focus our roadmap on a few things we can make really great. And we’re strengthening our team along the way.
— Jack (@jack) October 5, 2015
Twitter has also elevated well-liked business head Adam Bain to COO. Since Dick Costolo stepped down in June, Bain’s name has been floating around as a potential replacement. However, he doesn’t seem burned by being passed over, tweeting that he’s “honored” to serve in his new role. Apparently advertisers are also thrilled with Dorsey’s appointment:
Our teams are energized by @jack and our advertisers & partners love interacting with him.
— adam bain (@adambain) October 5, 2015
Costolo announced that he’s resigning from the board. He called Dorsey a “calm and thoughtful leader” and blasted the months of rumors circulating about the company, tweeting:
3/ as I step off the board, two reminders: those banging pots and pans outside Twitter know the least about what’s going on inside Twitter — dick costolo (@dickc) October 5, 2015
Twitter’s stock is up 2 percent in pre-market trading.
Images via Flickr/TechCrunch.
More in Media
Publishers revamp their newsletter offerings to engage audiences amid threat of AI and declining referral traffic
Publishers like Axios, Eater, the Guardian, theSkimm and Snopes are either growing or revamping their newsletter offerings to engage audiences as a wave of generative AI advancements increases the need for original content and referral traffic declines push publishers to find alternative ways to reach readers.
The Guardian US is starting its pursuit of political ad dollars
The Guardian US is entering the race for political ad dollars.
How much is Possible’s future in Michael Kassan’s hands?
Some people in the know at Possible said they see the conference taking a bite out of Cannes’ attendance, most acutely by U.S.-based marketers who could save money by staying on this side of the Atlantic.