Twitter Inc CEO Dick Costolo resigns
Dick Costolo has resigned as the Chief Executive Officer (CEO) of Twitter Inc after leading the company for five years.
He will demit the office of CEO on 1 July 2015. Till his replacement is found Jack Dorsey, Twitter co-founder and Square Inc’s CEO will take over as the Interim CEO.
Under the technological leadership of Costolo, Twitter had evolved from a startup to a public company. He was also had pioneered for introducing Twitter’s famous 140 character messaging service which had gained cultural prominence and had become a powerful tool for worldwide celebrities, activists and citizen journalists to propagate their views.
Dick Costolo had joined the company in 2009 as its Chief Operating Officer (CTO) and later in 2010 was appointed as its CEO. In 2013, he had helped the company to go public and also had struggled to attract new users to the service.
Twitter was founded in 2006. Presently has 302 million active users and has a market value around 25 billion US dollars.