Costolo steps down as Twitter CEO

12th June, 2015

Twitter said chief executive Dick Costolo is stepping down, reflecting the social-media company’s struggle to define its vision in the months following its initial public offering.

Jack Dorsey, a co-founder, will take Costolo’s place starting July 1 until the company can find a permanent replacement, Twitter said in a regulatory filing.

Costolo, who was named CEO in October 2010, presided over the company’s public-market debut in November 2013 and the stock’s decline...

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