Twitter names co-founder Jack Dorsey chief executive

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Twitter co-founder Jack Dorsey has been reappointed chief executive of the social media site on a permanent basis.

It will be his second time at the helm of the company, which he first ran in 2007.

He was reportedly fired in 2008 over concerns that he was spending too much time on other interests including yoga.

He remained as chairman but will relinquish that role as he becomes chief executive.

Controversially, he remains the boss of Square – a mobile payments company he launched in 2009.

Twitter said of his appointment: “Mr. Dorsey was selected to serve on the Board because of the perspective and experience he brings as one of Twitter’s founders and as one of Twitter’s largest stockholders, as well as his extensive experience with technology companies.”

It added that there are no plans to pay Dorsey any “direct compensation”.

The 38-year-old, who founded Twitter with Evan Williams, Biz Stone and Noah Glass in 2006, has been running the social media firm on an interim basis since June.

He stepped in after predecessor Dick Costolo quit following a period of slowing user growth and criticism of his failure to diversify.

Twitter also announced that former revenue chief Adam Bain will become chief operating officer.

Source Article from http://www.standard.co.uk/business/twitter-names-cofounder-jack-dorsey-chief-executive-a3083151.html

October 5, 2015 |
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