Twitter chief steps down

Dick Costolo is stepping down as chief executive of Twitter, the company has announced, reports BBC.
The social messaging service's co-founder Jack Dorsey will take over as interim chief on 1 July and
stay until a replacement can be found.
Mr Costolo had been under pressure from investors unhappy with the firm's
user growth.
In a statement, he said he was "tremendously proud of the Twitter team".
Twitter said that its board had formed a committee to undertake the task of finding a successor.
Following the announcement, shares in the company jumped by more than 7 per cent in trading after US markets had closed.
Twitter debuted on the New York Stock Exchange in 2013 but has not been adding users as fast as investors
had hoped.
In April, the firm missed Wall Street's forecasts for revenue growth and posted a net loss of $162m (£104m).

 

Twitter chief steps down

Dick Costolo is stepping down as chief executive of Twitter, the company has announced, reports BBC. The social messaging services co-founder Jack Dorsey will take over as interim chief on 1 July and stay until a replacement can be found. Mr Costolo had been under pressure from investors unhappy with the firms user growth. In a statement, he said he was tremendously proud of the Twitter team. Twitter said that its board had formed a committee to undertake the task of finding a successor. Following the announcement, shares in the company jumped by more than 7 per cent in trading after US markets had closed. Twitter debuted on the New York Stock Exchange in 2013 but has not been adding users as fast as investors had hoped. In April, the firm missed Wall Streets forecasts for revenue growth and posted a net loss of $162m (104m).