Twitter CEO Dick Costolo stepped down. Snoop Dogg wants to be CEO, but Twitter select Jack Dorsey.
Twitter CEO Dick Costolo hasn't delivered, and now he's out.
Mr. Costolo, a former entrepreneur and stand-up comedian, has strived to create a more open, collaborative culture at the company. He has built up Twitter’s advertising business, but has largely failed to fix persistent product problems that make it difficult to attract new users. Mr. Costolo has also been criticized for making rapid-fire decisions without a clear strategy guiding them.
The company, under Costolo, has tried to persuade investors and analysts that innovation was coming, but those efforts didn't come quickly enough and weren't big enough to make a difference.
Twitter's first-quarter performance was the latest illustration of stagnation and slowing user growth.
Costolo said he purposefully stepped down before the company started publicly searching for a successor.
Rapper Snoop Dogg indicated his desire in becoming chief executive of Twitter after the announcement that current chief Dick Costolo is to step down.
The rapper tweeted: “I’m ready to lead @twitter!”, following up with: “First order of business, get that moolah!”
But Twitter announced that Mr. Dorsey would become its interim chief executive while the company’s board searched for a replacement for Dick Costolo, who will step down on July 1.
Jack Dorsey is an American programmer and businessman widely known as a co-founder of Twitter, and as the founder and CEO of Square, a mobile payments company.
Dorsey launched Twitter as a micro-blogging platform in 2006, as social media networks were gaining massive popularity. It quickly took off as an easy and efficient tool to chat and share information online, especially among the tech and media communities, but failed to gain traction among new users. People said they just didn't "get it," and found Twitter difficult to use.
Jack Dorsey was a person who sent the first tweet in 2006. He led the company in its early years and helped make the micromessaging service into a global platform that now has more than 300 million active users.
Dorsey served as Twitter's first CEO before Evan Williams assumed the post in October 2008. Williams was later replaced by Dick Costolo almost exactly two years later to focus instead on product strategy. At that time, Dorsey took on a less time-intensive role as chairman of the board. Two years later, he launched Square, which allows vendors to more easily process offline credit card payments using their mobile devices and a small credit card reader.
|Current Twitter CEO Dick Costolo|
|Jack Dorsey would become Twitter CEO since July 1.|
|Rapper Snoop Dogg wants to be Twitter CEO|