Twitter’s chief executive, Dick Costolo, is stepping down but will remain on board. He and Twitter investor relations tweeted the news today.
Dick Costolo to step down as CEO, will remain on Board, and Jack Dorsey appointed Interim CEO, effective July 1
— TwitterIR (@TwitterIR) June 11, 2015
Welcome back, @jack !! https://t.co/3papmyUKg0
— dick costolo (@dickc) June 11, 2015
The change is effective July 1.
This is major news for Twitter, which has faced plenty of criticism about its ability to keep growing its user base and generating more revenue.
On May 28, at the Code Conference, Costolo was asked if he would be stepping down this year. He deflected the question, stating that he had the full support of the Twitter board of directors. “I don’t feel like I’m sync with the board. I know I’m in sync with the board,” Costolo said.
“The board and I are completely in sync,” Costolo said.
Dylan Tweney contributed to this report.
Developing….
Twitter CEO Dick Costolo is stepping down on July 1, cofounder Jack Dorsey will be interim CEO
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