Twitter CEO Dick Costolo is set to step down in July, according to a document released to shareholders on Thursday. Jack Dorsey, the social media giant's co-founder, will step in as the company's interim CEO.
Though he'll no longer be at Twitter's helm, Costolo will remain on the company's Board of Directors. Dorsey, who co-founded the mobile payment company Square Inc. in 2009, will also continue to hold his post as Square's CEO, according to a statement released by Twitter.
Costolo became CEO in October 2010, replacing co-founder Evan Williams. Since Twitter went public in 2013, Costolo has become a controversial figure, said to be respected by Twitter's employees but a disappointment to the company's Wall Street investors.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
October 8 editorial cartoonsCartoons Wednesday’s political cartoons include evidence* of what causes autism, Donald Trump's enemy within and a CBS sacrifice
-
Frauds: ‘fantastically stylish’ crime heist caper is a ‘triumph’The Week Recommends Suranne Jones and Jodie Whittaker play a pair of ex-cons planning one last job
-
The struggles of Aston MartinIn the Spotlight The car manufacturer, famous for its association with the James Bond franchise, is ‘running out of road’
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
