Twitter has finally announced it’s full time CEO
Twitter has finally announced it’s full time CEO. Surprise! It’s Jack Dorsey.
Dorsey, who is one of Twitter’s co-founders returned to the company as interim chief after Dick Costolo stepped down from the role in June.
The move comes after months of rumors that Dorsey would stay on as CEO of both Twitter and Square.
To announce the position, Dorsey tweetstormed about the news saying that “what Twitter stands for gives us purpose, and that purpose dictates our job ahead.”
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
In the documents filed with the SEC today 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.
That may be due to the fact that Dorsey is not only a Twitter founder, but also one of the largest stockholders in the company.
Funnily enough, back in June, Twitter’s search committee for a new CEO said that the company will only consider “candidates for recommendation to the full Board who are in a position to make a full-time commitment to Twitter.”
It seems like that simply didn’t matter anymore, as Dorsey was the right man for the job.
This is Dorsey’s second run at being CEO. The company started out with him in charge, but he was later removed in 2008 as the company looked to grow.