Twitter announced yesterday that co-founder Jack Dorsey, who was appointed as interim CEO Jack Dorsey following the exit of previous CEO Dick Costolo, has been confirmed as the new CEO of the company.
Jack Dorsey co-founded Twitter in 2006 along with Evan Williams, Biz Stone and Noah Glass. The microblogging platform has become one of the biggest social networks in the world and went public in 2013. However, user growth had seen a slowdown over the last few quarters, which has caused a lot of backlash from investors and analysts and fears about the company’s future.
In a filing to the US Securities & Exchange Commission, the company said that Dorsey would continue to serve as a member of the Board, but will no longer act as Chairman. The company says that Dorsey won’t receive any direct compensation for being the CEO of Twitter and that there are no plans to provide any.
Dorsey is also the CEO of Square Inc., a card payment platform he founded in 2010. He will continue to serve as CEO for both the companies.