Twitter boss Dick Costolo has announced his resignation. This follows criticism on low revenue turnover for Twitter over the past two years. Following his exit former CEO and co-founder Jack Dorsey will step in as the interim CEO while twitter looks for a new boss. Costolo will leave the office on 1st July, 2015.
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One of the long time investors in twitter Chris Sacca said, “It is time for a major change, product redesign with a friendly interface and potentially a buyout from google.”Sacca was speaking in a report review in dissatisfaction with Costolo’s management.
Peter Curie, Peter Fenton and Ev Williams will lead the search for a new CEO as Dorsey serves as the interim CEO for few months, though he seems to be focused on Square, mobile payments company.
Twitter’s chief financial officer has been hinted as a possible replacement for Costolo. Also Facebook’s Sheryl Sandberg, the chief operational officer is possibly on the list of candidates eying the top seat in the social giant. If a suitable replacement is not found, twitter will be forced to look towards one of the co-founders.
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