Home / / Twitter appoints co-founder Dorsey as permanent CEO

Twitter appoints co-founder Dorsey as permanent CEO

Interim and former chief executive gets old job back

Twitter appoints co-founder Dorsey as permanent CEO
Some fear Dorsey’s time may be split between Twitter and mobile payments firm Square, which he also founded.

Twitter's board has appointed the company's co-founder, Jack Dorsey, as permanent CEO, and successor to Dick Costolo, who stepped down in July.

Dorsey, who previously held the CEO position before being fired in 2008, has been doing the job on an interim basis for three months. Twitter's shares got a 6% bump from the news, which ended speculation that Dorsey was the obvious choice.

Since Dorsey took over, investors and analysts have praised a slicker machine, where feature rollouts have occurred more quickly, including a "buy now" button that allows e-shopping through the microblogging platform.

But others fear Dorsey's time may be split between Twitter and mobile payments firm Square, which he also founded. Square is expected to go public this year and Dorsey will need to spearhead the wooing of investors.

Speculation has now turned to the position of company chairman, and some analysts are already urging the appointment of an outsider to reign in Dorsey should he devote to much time to Square.

Follow us to get the most comprehensive IT business news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018