Posted 06/12/2015 at 8:53 AM
Posted 2 years ago
Twitter has experienced a shake-up at the top as it is trying to reconfigure its defining vision.
On Thursday, Chief Executive Officer Dick Costolo announced that he was stepping down from his position, according to the disclosure of a regulatory finding.
Co-founder Jack Dorsey will be taking over the position starting on July 1st and will remain in the role until a permanent replacement can be hired.
Costolo had been named to the position five years ago, and in his stint had overseen the company’s debut on the public market and in recent times, saw the stock prices dip heavily.
Dorsey will not be shirking his duties as CEO of Square, the mobile payments company he left Twitter to co-create in 2012.
Industry experts see this change as Twitter re-directing its focus back to the product, but there is also speculation that this move could put the company in a key position for acquisition by a larger tech company.
Google’s name has been thrown out there as a possible choice if that were to be a possibility.