×
You will be redirected back to your article in seconds

Twitter to Make Jack Dorsey Permanent CEO (Report)

The inevitable is finally happening: Twitter is going to announce that Jack Dorsey will once again become permanent CEO of the company, according to a Recode report. The announcement could come as early as Thursday, and will likely coincide with some changes to the company’s board.

A Twitter spokesperson declined to comment.

Dorsey has been leading Twitter as interim CEO ever since former CEO Dick Costolo left the company at the end of June. The search was complicated by the fact that Dorsey is also CEO of the payment processing startup Square, which recently filed for an IPO. Twitter’s board made it clear early on that they wouldn’t allow for a split CEO role, but leading Twitter investors have since voiced support for Dorsey filling both roles.

Dorsey himself has been acting all along as if he was in it for the long haul. Not only did he start to restructure the company’s product team, he also pushed for bold new product initiatives, including one that may bring long-form publishing to Twitter, which has thus far been restricted to 140-character updates.

Twitter’s search committee had been looking at both internal and external candidates for the job. Some of the names that surfaced in recent weeks included CBS Interactive CEO Jim Lanzone as well as GE CMO and former NBC exec Beth Comstock. Internally, Twitter was also looking at the company’s business chief Adam Bain, but Bain refused to take the job if Dorsey was interested, according to Recode. One of the open questions will be if and in which capacity Bain will now stay at the company.

One of Dorsey’s most important jobs will be to restore investor confidence in the company, which has seen its stock price halved since a disappointing earnings release in April. Investors have been most concerned about Twitter’s stalling growth; Twitter’s number of monthly active users in the U.S. has been flat over the last two quarters, and it has seen little growth abroad to make up for this.

Dorsey said during the company’s Q2 earnings call that he wants to turn the tide by both looking to make Twitter more appealing to new users, and amping up the marketing for the service. Twitter is expected to introduce a new product experience code-named “Project Lightning” in the coming weeks that adds editorial curation around major news and cultural events to the service. In addition, the company is planning a major marketing push to bring back growth.

This isn’t the first time Dorsey is leading Twitter. He also served as the company’s CEO when it was first spun out of the podcasting startup Odeo in 2006, and was deeply involved in the development of Twitter’s first features and launch in the same year. However, Dorsey replaced by co-founder Evan “Ev” Williams in 2008, and didn’t have any day-to-day involvement in the company until his return on 2011, when Dick Costolo replaced Williams and Dorsey returned as executive chairman.

More Digital

  • Hiccup (Jay Baruchel) and his Night

    ‘How to Train Your Dragon: The Hidden World’ Again Tops Studios’ TV Ad Spending

    In this week’s edition of the Variety Movie Commercial Tracker, powered by the TV ad measurement and attribution company iSpot.tv, DreamWorks Animation claims the top spot in spending for the second week in a row with “How to Train Your Dragon: The Hidden World.” Ads placed for the fantasy film had an estimated media value [...]

  • ‘Tomorrow and Thereafter,’ ‘Diane Has the

    MyFrenchFilmFestival Prizes ‘Tomorrow and Thereafter,’ ‘Diane Has the Right Shape’

    Actress-director Noémie Lvovsky’s “Tomorrow And Thereafter,” a heartfelt homage to the director’s own mother, and Fabien Gorgeart’s “Diane Has the Right Shape,” about one woman’s surrogate motherhood, both won big at the 2019 UniFrance MyFrenchFilmFestival which skewed female in its winners and viewership, making particularly notable inroads into South East Asia and Latin America. Opening [...]

  • soundcloud-logo

    SoundCloud Launches Tool to Distribute Music to Other Streaming Services

    SoundCloud today announced a new distribution tool that enables artists to distribute their music to other streaming services. The feature, currently in open beta the service’s Pro and Pro Unlimited platforms, means that artists can upload their music to SoundCloud competitors including Apple Music, Amazon Music, Spotify and Instagram. “Creators using the SoundCloud Premier distribution feature keep [...]

  • Alison Meyer - Whistle

    Whistle Taps Refinery29's Alison Meyer as VP of Marketing

    Whistle has hired Alison Meyer, previously with female-focused Refinery29, to head up brand-marketing solutions for the male-centric digital media player. As VP of marketing at New York-based Whistle, Meyer will lead partnership marketing for the company’s slate of original programming and branded content. She reports to Whistle president and COO Michael Cohen. Meyer’s appointment comes on [...]

  • Snapchat - NHL Highlights

    Snapchat Expands NHL Pact to Add Hockey Highlights, Curated Stories

    Snapchat is adding more action from the ice under a new multiyear deal with the National Hockey League. The NHL, in association with Disney Streaming Services, is delivering a new weekly highlights show on Snapchat recapping the top 10 plays of the previous week and will produce Curated Our Stories on the platform for select games [...]

  • Hulu Adds Another Interactive Ad: This

    Hulu Adds Another Interactive Ad: This One Lets You Get Offers Via Email

    Hulu lets its subscribers choose the show they want to see. Now the video-streaming service is increasingly letting users choose to respond to certain commercials right away. A commercial from Sleep Number, the manufacturer of the bed with an adjustable mattress, that has run on Hulu for the past several weeks allows viewers to request [...]

More From Our Brands

Access exclusive content