CEO Dick Costolo will resign, to be replaced in the interim by Jack Dorsey.
Our CEO, @dickc, will step down as CEO, and we'll welcome @jack as Interim CEO on July 1 #TWTRannouncement: http://t.co/q8Ygg91jzc
— Twitter (@twitter) June 11, 2015
Casey Newton at The Verge writes that it was not unexpected.
Twitter CEO Dick Costolo is out at Twitter, a source at the company tells The Verge. Costolo told the staff today he would be stepping down in the next few weeks. Twitter co-founder Jack Dorsey will be interim CEO while the board conducts a search for a permanent replacement. Costolo's future at the company had been in question for the past six months as anemic user growth and a struggling stock price have led some investors to call for a change.