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 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:

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:

Twitter’s stock is up 2 percent in pre-market trading.

Images via Flickr/TechCrunch.

https://digiday.com/?p=138982

More in Media

Illustration of a fire hydrant spraying water with the Facebook logo on the side.

Publishers reckon with declining Facebook referral traffic as the platform pulls away from news

Publishers are still feeling the effects of a change Facebook made in May that caused a steep decline in referral traffic. Nearly four months later, publishers aren’t sure when — or if — that traffic will come back. 

There is a new definition for MFAs, but it’s meant to be open to interpretation

A new definition for MFAs is available but the vague nature of the guidelines is leading to a lack of standards that might prevent adoption.

Publishers weigh generative AI’s pros and cons during the Digiday Publishing Summit

The publishers who attended DPS were focused on the potential upsides of applying the technology to their operations while guarding against the downsides.