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Twitter CEO Dick Costolo Is Out

Yesterday my phone blew up because Twitter CEO Dick Costolo is stepping down.

Here is part of the filing from yesterday from Twitter.

On June 11, 2015, Twitter, Inc. (“Twitter”) announced that Richard Costolo has decided to step down as Chief Executive Officer of Twitter, effective July 1, 2015. Twitter’s Board of Directors has named Jack Dorsey, Co-Founder and Chairman of the Board, to serve as Interim Chief Executive Officer while the Board conducts a search for Twitter’s next CEO. Mr. Costolo will continue to serve on Twitter’s Board of Directors, and Mr. Dorsey will continue to serve as CEO of Square, Inc., the payments and financial services company he co-founded in 2009.

Read more:

Twitter CEO stepping down might be a good think for shareholders and investors. But I just hope Wall Street did not mess up Twitter now. I use this service everyday and hope the next CEO does not turn Twitter into something that will make me stop using it.

***Jack Dorsey will be the intern CEO of Twitter starting July 1st.

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