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Twitter Names Jack Dorsey Permanent CEO

Twitter Names Jack Dorsey Permanent CEO

Monday, 05 October 2015 09:06 AM

It's official: Twitter has named Jack Dorsey permanent chief exec, to lead the social-media company he co-founded.

Even as he takes over the reins at Twitter, Dorsey, 38, will continue to serve as CEO of Square, the payments and financial-services company he co-founded in 2009. He also will continue to serve on Twitter's board, but will no longer be chairman.

"My ability to run both Twitter and Square is made possible by the great teams at both companies," Dorsey said during an investor call Monday.

Dorsey will rely on key lieutenant Adam Bain, who has been elevated to the position of chief operating officer. He previously served as Twitter's president of global revenue and partnerships, and was short-listed as a potential CEO candidate.

Dorsey had served as Twitter's interim CEO since Dick Costolo departed at the end of June after six years at the company. Twitter said Costolo resigned from its board effective Sept. 30.

"Jack not only understands Twitter's culture, but is a vital part of it," board member Peter Currie, president of Currie Capital, said on the call. Twitter disclosed the management and board changes in a Securities and Exchange Commission filing.

Twitter said "there are currently no plans to provide Mr. Dorsey with direct compensation for his role as Chief Executive Officer."

In a tweet, Currie said the vote to bring Dorsey on as full-time CEO was unanimous:

 

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It's official: Twitter has named Jack Dorsey permanent chief exec, to lead the social-media company he co-founded. Even as he takes over the reins at Twitter, Dorsey, 38, will continue to serve as CEO of Square, the payments and financial-services company he co-founded in...
jack dorsey, twitter, ceo
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2015-06-05
Monday, 05 October 2015 09:06 AM
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