Online Financial Journal / EFE
Twitter said Thursday that cease to be Dick Costolo CEO from July 1 this year. He will be temporarily replaced by Jack Dorsey, co-founder of the social network and president of the Council.
“The Council of Twitter has created a search committee to find a permanent CEO,” Twitter said in a statement.
Costolo keep his seat on the board of directors of Twitter, while Dorsey continue to serve as CEO of Square, the payment company and financial services co-founded in 2009.
According to the company statement, it does not explain the reasons for the departure of Costolo Dorsey has agreed to waive all forms of direct compensation until the compensation committee of the Board of Twitter agree on a compensation package, the while it conducts its annual evaluation and adjustment of compensation for company executives for the whole year.
It is recalled that Costolo remained in the post for five years, after in 2010 he replaced Evan Williams, one of the founders
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