Social Media

Twitter’s Dick Costolo to step down from board of directors

By Jennifer Faull | Deputy Editor

August 9, 2015 | 2 min read

Reports have emerged that Dick Costolo – who left as Twitter’s CEO earlier this year – will step down from the board of directors.

It was announced Costolo would depart as chief executive in June. At the time, Twitter bosses maintained that he would continue to serve on its board.

However, The New York Times and Recode have both cited anonymous sources who claim he’s looking to exit from the board by the end of the year or once the company appoints a new chief.

Twitter co-founder and chairman of the board Jack Dorsey has served as interim CEO while the board searches for a permanent replacement.

The Times reports that Costolo had been considering stepping down from the board since June. However, with Wall Street’s growing concerns on the social networks performance coupled with the desire to make the transition to a new chief executive smooth he decided to stay.

According to Recode, a new chief will be in place by September which could mark the date for the board shake-up.

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