Twitter CEO steps down as Co-Founder Jack Dorsey becomes interim CEO

by | Jun 12, 2015

Twitter has announced that starting from July the 1st Dick Costolo, Twitter’s CEO will be stepping down and Jack Dorsey, Co-founder of Twitter and CEO of Square, will be installed as the interim CEO while a search for a new CEO is on. Since the announcement, Twitter stock prices has shot up and it seems that Wall street is happy with the decision as they have been calling for Dick’s exit due to Twitter’s slow growth in customer acquisition since their IPO one and a half years ago as compared to Facebook’s.

Jack Dorsey 

Dorsey was pushed out of the CEO role in 2008 and was replaced by Ev Williams, who was replaced by Costolo in 2011. In 2009, Dorsey Co-founded Square and presented himself to be an executive in the spirit of Steve Jobs, with a strong design aesthetic and his foot in two prominent technology companies. This move will give him the chance to be heavily entrenched in two behemoth Silicon Valley companies and further his claim to being the new Jobs.

Advertisement

https://twitter.com/dickc/status/609090180725678080

From various indications, we can assume Costolo already knew his fate considering that two weeks ago at a Code conference, Dick was asked about keeping his job to which he responded, “I don’t worry about that at all. The board and I are completely in sync. Believe me, I don’t worry about that at all.” Leaves us with two conclusions either he should have worried, or didn’t because he knew his fate was inevitable.

Dick Costolo

Employees are going to miss Costolo. He brought order to Twitter when he came on board as chief operating officer, in the days when Twitter still experienced service interruptions, one particular scenario comes to mind- The day Michael Jackson died.

Yemi Johnson
Yemi Johnson

Chief @ Hotels.ng. I write a quarterly or sometimes half-yearly newsletter. Sign up here: yemijohnson.com

Advertisement

On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

Subscribe
Notify of
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Temitayo Ogunlolu
Temitayo Ogunlolu
6 years ago

Really, CEO of Foursquare. you guys should make your research better.

Recent News

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap