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Twitter's CEO Dick Costolo is stepping down

Twitter's CEO Dick Costolo is stepping down

All change at the social media giant

Editor: Buro 24/7

Twitter’s CEO – Dick Costolo – is exiting the social media giant he helped create, effective July 1. Get the scoop here…

Twitter Inc. chief executive officer, Dick Costolo (pictured above) will exit the social media giant on July 1. The platform's co-founder and chairman, Jack Dorsey will act as CEO in the interim, whilst the company looks for a permanent replacement.

Costolo will remain on Twitter's board, and Dorsey will continue his role as CEO of Square Inc, the digital payments business he co-founded in 2009.

Dorsey said, "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 line-up 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."

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