Join us Dec. 1-3 in Nashville for the Digiday Programmatic Marketing Summit
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
Reach CEO touts Google AI deal as a template, steps up pressure on OpenAI over scraping
Digiday spoke with Reach CEO Piers North about his plans to make its Google AI content deal a blueprint framework for other LLM deals, and its recent cease-and-desist letter to OpenAI.
Social commerce edges past SEO at The Independent for the first time
The Independent’s social-commerce revenue edged past its SEO-based commerce revenue for the first time in September, CEO Christian Broughton said at Digiday’s Media Strategies event in London this week.
Ownership, control, margins: the brand playbook for microseries is still taking shape
Creator-led microseries are hot, and brands want in, but everyone’s still figuring out the structure of the deals and the content itself