Jack Dorsey is New Interim CEO of Twitter as Dick Costolo Steps Down

It was announced that Dick Costolo will be replaced by Jack Dorsey as of 1 July 2015. But will still remain on the board of Directors. He has welcomed Dorsey publicly as the CEO. After the news spread stock prices for Twitter rose 7%. Currently it changes between 5% and 6%.

Jack Dorsey Appointed Twitter Interim CEO as Dick Costolo Steps Down : eAskme
Jack Dorsey Appointed Twitter Interim CEO as Dick Costolo Steps Down : eAskme
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Dorsey will be replaces when a suitable replacement has been found. As there is a search for a new CEO. Peter Curry will be leading the search. In a statement released Costolo said that there's "no one better than Jack Dorsey to lead Twitter during this transition"

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This may be a sign of Twitter's commitment for growth of user base and revenue. After it fell short by analysts predictions in Q1. In October 2010 Evan Williams stepped down. Since then Twitter hasn't been run by a founder. Does that tell of sings of trouble? Time will answer this as the company changes through it's leadership.

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