Jack Dorsey, co-founder of Twitter and Square, has been named Twitter's permanent CEO. Dorsey stepped in as interim CEO of Twitter in place of Dick Costolo in July. Dorsey is currently CEO of Square, which will be going public. He plans to do both jobs at once.
Moments ago, what many thought was inevitable with the stock trading just $1 above its 52-week low and just over 50% below its all time high, finally happened when Twitter issued a press release stating that CEO Dick Costello has decided to step down, leading to an immediate surge in the stock, and the obligatory tweet:
Twitter just announced in a filing with the SEC that embattled CEO Dick Costolo will step down on July 1. Jack Dorsey will be the interim CEO. Dorsey is currently the CEO of Square, which will be a complicated situation for him to manage.
MONTREAL — Following a year of unpleasant surprises for Valeant Pharmaceuticals International Inc., on Monday the company announced chief executive Michael Pearson would take a leave of absence following his hospitalization last week with severe pneumonia. During his absence, Pearson’s duties will be split between three company executive vice-presidents.
Target CEO Gregg Steinhafel has stepped down. Last December Target was the subject of a massive hack that saw 40 million customers' credit card numbers stolen. A report later came out that said Target could have prevented the attack.
SAN FRANCISCO: Twitter Inc Chief Executive Officer Dick Costolo abruptly announced he was stepping down on Thursday amid increasing scrutiny of the company's slow user growth and inability to attract advertisers at the same rate as its competitors. Costolo will be replaced by co-founder Jack Dorsey on an interim basis. The company's shares jumped 7.7 percent to $38.60 following the news before paring gains to trade at $37.54. "Unfortunately this news isn't surprising," said Nate Elliott of management consultant Forrester Research.