Twitter has officially returned to its roots. This morning the company introduced co-founder Jack Dorsey as its permanent CEO, removing the interim stamp he operated under for the last four months.
The move was announced with an SEC filing and a series of tweets from Dorsey, who is also the CEO of payments startup Square. The company also named Adam Bain, chief of revenue and partnerships and reportedly another CEO candidate as Chief Operating Officer. Former CEO Dick Costolo stepped down in June.
Dorsey officially takes over a publicly-traded company struggling to gain momentum and the confidence of investors. Twitter stock has been hovering around IPO price of $26 a share for much of the summer. In early trading today, it was slightly above that mark.
⚡️ Hello! We have some news to share!
— Jack (@jack) October 5, 2015
We are naming @adambain COO of Twitter, we're working to change the composition of our Board, and I will serve as CEO of Twitter and Square!
— Jack (@jack) October 5, 2015
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