Twitter’s Dick Costolo leaving company, Jack Dorsey to return as Interim CEO

Twitter’s CEO position will be undergoing a change next month. Earlier, we learned that CEO Dick Costolo plans to depart from the company on July 1 and Jack Dorsey, Twitter’s founder, has been selected by the Twitter Board of Directors to fill the position on an interim basis.

Costolo commented on the decision to leave Twitter:

“I am tremendously proud of the Twitter team and all that the team has accomplished together during my six years with the Company. We have great leaders who work well together and a clear strategy that informs our objectives and priorities. There is no one better than Jack Dorsey to lead the world as well as a great relationship with Twitter’s leadership team. I am deeply appreciative of the confidence the Board, the management team and the employees have placed in me over the years, and I look forward to supporting Twitter however I can going forward.”

Dorsey, who will remain Square’s CEO during this time, thanked Costolo for his work:

“The future belongs to Twitter thanks in large part to Dick Costolo’s dedication and vision. Dick has put a world-class team in place and created a great foundation from which Twitter can continue to change the world and grow. We have an exciting lineup of products and initiatives coming to market, and I look forward to continuing to execute our strategy while helping facilitate a smooth transition as the Board conducts its search.”

Internally, Twitter employees are reportedly shocked by the move.

Welcome back, @jack !! https://t.co/3papmyUKg0

— dick costolo (@dickc) June 11, 2015

Source: Twitter (PDF)

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