Twitter appoints co-founder Dorsey as permanent CEO
Interim and former chief executive gets old job back
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.