| Title | Costolo Resigns in Twitter "CEO Transition" | |
| Date | Saturday June 13 2015, @01:53AM | |
| Author | janrinok | |
| Topic | ||
| from the he's-not-resigned-but-migrated dept. | ||
Twitter announced that Dick Costolo had resigned as CEO, effective July 1. Jack Dorsey, a Twitter co-founder, has been appointed by the board as his replacement. (Tweet version here). Dorsey is also CEO of Square, which provides front-end devices and back-end systems for processing mobile payments.
While Costolo is reportedly popular with employees, investors were impatient with the company's growth in revenue and earnings, which has trailed expectations. One fund manager, Chris Sacca, wrote an essay to fellow shareholders (linked by the TechCrunch piece) explaining his disappointment, and ideas for a different direction for the company:
Twitter can be indispensable, engaging, and fun for everyone on the planet, and make even more money in the process. So why isn't that happening?
- For most people, Twitter is too hard to use.
- For most people, Tweeting is scary.
- For most people, Twitter feels lonely.
None of this is a surprise, as Twitter was mostly built by and for its power users.
Costolo insists the exit was in the works for awhile, and he wasn't pushed. For now, we can expect plenty of witty tweets.
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printed from SoylentNews, Costolo Resigns in Twitter "CEO Transition" on 2025-12-17 06:44:36