Dick Costolo resigned as CEO of Twitter Inc

Twitter co-founder and Square Inc's CEO Jack Dorsey will take over as the Interim CEO of the company on 1 July 2015 and will stay until a replacement is found.

Created On: Jun 12, 2015 18:03 IST

Dick Costolo on 11 June 2015 resigned as the Chief Executive Officer (CEO) of Twitter Inc after serving the company for five years. Costolo will demit the office of CEO on 1 July 2015.

Twitter co-founder and Square Inc's CEO Jack Dorsey will take over as the Interim CEO of the company on 1 July 2015 and will stay until a replacement is found.

Costolo joined the company in 2009 as its Chief Operating Officer. In 2013, he helped the company to go public and recently he struggled to attract new users to the service.

Under Costolo, Twitter evolved from a scrappy startup to a public company with a market value of some 25 billion US dollars. At the same time, the 140-character messaging service of Twitter gained cultural prominence, becoming a powerful microphone for celebrities, activists and citizen journalists.

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