It’s official: Jack Dorsey is Twitter’s permanent CEO.
Twitter Makes It Official: Jack Dorsey Is Back as Permanent CEO
As reported by Recode on Wednesday.
Kimberly White / Getty Images
Twitter announced Monday morning that Dorsey will indeed take over the CEO role full time, a job he has been doing on an interim basis since former Twitter CEO Dick Costolo stepped down in early June.
The formal appointment isn’t a surprise: Recode reported Wednesday that Dorsey was expected to get the job. And in fact, Twitter’s SEC filing says that Twitter’s board made the appointment official that same day and is only getting around to announcing it now.
The filing also says Dorsey will continue to serve as CEO of Square, the payments company he founded and has been running since 2009. Twitter’s board had previously suggested — via another SEC filing — that Dorsey would be forced to choose between the two companies.
The decision marks the end of what has become a nearly four-month-long CEO search for Twitter. It became clear toward the end of the process that Dorsey was the favorite for the position. Both Twitter and Square investors publicly supported the idea of Dorsey running both companies in a New York Times report earlier this week, and longtime Twitter investor Chris Sacca routinely called for Dorsey’s permanent hire.
As Recode also reported last week, Dorsey’s move comes with other shuffles. Adam Bain, the company’s well-regarded head of revenue, has been bumped up to chief operating officer. Meanwhile, Costolo has stepped down from Twitter’s board. There’s no mention of a new role for CFO Anthony Noto.
Dorsey, who owns a significant stake in Twitter, won’t get paid to run the company.
And now, some Tweets about Twitter, from some of the principals.
https://twitter.com/jack/status/651003190628872192
https://twitter.com/jack/status/651003315212300289
https://twitter.com/jack/status/651003398922174464
https://twitter.com/adambain/status/651004155528544257
https://twitter.com/adambain/status/651004273254252545
https://twitter.com/adambain/status/651004478351536128
https://twitter.com/dickc/status/651003322388889600
https://twitter.com/dickc/status/651003992651137024
https://twitter.com/dickc/status/651005366998732801
This article originally appeared on Recode.net.
