Belfast Telegraph

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Twitter's Dick Costolo steps down as chief executive

Twitter CEO Dick Costolo is stepping down, the company has announced.

The social network's co-founder and Square CEO Jack Dorsey will take over as interim chief on 1 July .

"I am tremendously proud of the Twitter team and all that the team has accomplished together during my six years with the company," Mr Costolo said in a statement.

"There is no one better than Jack Dorsey to lead Twitter during this transition. He has a profound understanding of the product and Twitter's mission in the world as well as a great relationship with Twitter's leadership team

"I am deeply appreciative of the confidence the Board, the management team and the employees have placed in me over the years, and I look forward to supporting Twitter however I can going forward."

Costolo will remain on Twitter's board of directors. Shares of $TWTR rallied with Twitter’s share price up 7% in after-hours trading.

Costolo's departure comes just months after he said Twitter ‘sucks’ at protecting users from abuse .

Further reading

Twitter cracks down on 'revenge porn' and 'doxing' in user policy sharpening

Twitter blames Apple iOS 8 for losing millions of users

Twitter deal with Google will put tweets straight into search results

Twitter ‘sucks’ at protecting users from abuse, says CEO Dick Costolo

Twitter IPO: Investors in fine feather after $30bn float  

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