×
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

  • YouTube logo

    YouTube Denies Report That It's Exiting Scripted Dramas, Comedies

    YouTube claims it is not pulling up stakes from original entertainment — denying a report by Bloomberg over the weekend that the Google-owned video service was cancelling plans for “high-end dramas and comedies” and had stopped taking pitches for “expensive” scripted shows. In a statement, a rep said, “YouTube denies the report” and cited its [...]

  • Apple to Launch New Apple TV

    This Is What Apple's New TV Service Will Actually Look Like

    Apple unveiled its much-anticipated video service at a press event in Cupertino Monday, promising a range of originals via its forthcoming Apple TV+ service as well as easy access to third-party video subscription services. But while many of the big names attached to Apple’s video efforts were known beforehand, one significant detail wasn’t: How are [...]

  • Apple Announces Gaming Subscription Service

    Apple Announces Gaming Subscription Service Apple Arcade

    Apple detailed its long-rumored gaming subscription service during a special event it held in Cupertino, California Monday. Apple Arcade is the world’s first game subscription service for mobile, desktop and living room, the company said. With a single subscription, you get access to more than 100 new and exclusive games. The games won’t be on [...]

  • Apple News Announcement

    Apple Unveils $9.99 News Subscription Service Dubbed Apple News+

    Apple unveiled a news subscription service called Apple News+ at its services event in Cupertino, Calif. Monday. The $9.99 service gives paying subscribers access to over 300 magazines as well as select newspapers and premium digital news services. “We believe in the power of journalism and the impact it will have on your lives,” said [...]

  • Katie Drummond - Vice Digital

    Vice Names Katie Drummond Senior VP of Digital

    Katie Drummond, who has worked as an editor in digital media and publishing for a decade, joined Vice Media as senior vice president of Vice Digital. Drummond comes on board to take over many of the duties of Ciel Hunter, who left Vice in January as global head of content for Vice Digital after more [...]

  • Apple Event: How to Watch Live-Stream

    How to Live-Stream Today's Apple Event

    Monday is the coming-out party for Apple’s Hollywood ambitions: After years of trademark secrecy about its plans to stream into video entertainment, the tech giant is set to pull back the curtain at a media event. The live program kicks off at 10 a.m. PT / 1 p.m. ET, on Monday, March 25, from the [...]

  • Google Stadia Is a Net Neutrality

    Google Stadia Is a Net Neutrality Nightmare

    At the Game Developers Conference (GDC) this year, Google announced that it has taken up the long and ever-lengthening dream of the video game streaming service. Meant to replace the hefty, pricey, altogether confounding experience of buying and using various gaming hardware, Google Stadia will run video games on Google’s own hardware in a server [...]

More From Our Brands

Access exclusive content