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Twitter’s big leadership shakeup has finally arrived

Twitter CEO Dick Costolo is out.

Mar 1, 2020, 1:45 am*

Tech

Selena Larson 

Selena Larson

Twitter CEO Dick Costolo is stepping down from Twitter, and Twitter cofounder and Square CEO Jack Dorsey will be interim CEO.

Costolo’s departure didn’t come as too much of a surprise for those who follow Twitter closely. During his tenure, Twitter’s growth stagnated and the company struggled to appeal to new users, despite a number of updates that were geared toward making the “global town square” more accessible to people unfamiliar with 140-character bursts.

Wall Street was unimpressed with Twitter’s performance as of late, and venture capitalist and Twitter investor Chris Sacca recently wrote a widely-shared blog post about the changes Twitter desperately needed to make.

Twitter will commence its search for a new CEO, but in the meantime, Twitter users were going all-in on the Dick and Jack jokes.

https://twitter.com/Slade/status/609091881398616064

Wall Street was pleased with the announcement. Twitter stock spiked after hours following the news that Costolo would be stepping down.

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Photo via Joi/Flickr (CC BY 2.0)

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*First Published: Jun 11, 2015, 6:12 pm