Twitter finally confirms Jack Dorsey as permanent CEO
Jack Dorsey has finally been named as the chief executive of Twitter replacing Dick Costolo who vacated the role in July.
Twitter today made the move official following weeks of speculation that Dorsey, Twitter's interim CEO and Square chief executive, was lined up for the role on a permanent basis.
Dorsey has vowed that he is capable of running Twitter and payments company Square at once despite Square’s impending IPO.
Charged with growing the social network’s user base following a year or so of stagnation he’s dubbed “unacceptable”, Dorsey tweeted his plan of action following the announcement, and revealed that Adam Bain had been appointed chief operating officer.
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
I've been CEO of both companies for over 3 months now. I have the smartest, strongest, and most determined leaders in the world on my teams.
— Jack (@jack) October 5, 2015
My focus is to build teams that move fast, and learn faster. In the past 3 months we have increased our speed and urgency at both companies.
— Jack (@jack) October 5, 2015
A few things about each company, and their impact in the world. What we stand for gives us purpose, and that purpose dictates our job ahead.
— Jack (@jack) October 5, 2015
Square stands for economic empowerment. We stand for financial systems that serve instead of rule. We stand for leveling the playing field.
— Jack (@jack) October 5, 2015
Twitter stands for freedom of expression. We stand for speaking truth to power. And we stand for empowering dialogue.
— Jack (@jack) October 5, 2015
Twitter is the most powerful communications tool of our time. It shows everything the world is saying rn…10-15 minutes before anything else.
— Jack (@jack) October 5, 2015
Both companies have strong businesses and are well positioned to grow their impact in the world. I will do whatever it takes to ensure that.
— Jack (@jack) October 5, 2015
We're working hard at Twitter to focus our roadmap on a few things we can make really great. And we're strengthening our team along the way.
— Jack (@jack) October 5, 2015
Our work forward is to make Twitter easy to understand by anyone in the world, and give more utility to the people who love to use it daily!
— Jack (@jack) October 5, 2015
Nate Elliott Forrester analyst, said: "Now that Twitter's CEO drama is out of the way, the company can get back to doing its job: Building products people want to use. The key phrase there is "building products" -- something Twitter hasn't done nearly enough of.
"The reason Facebook keeps growing is that it keeps offering people new features and new experiences that attract an ever-larger audience; the reason Twitter is stagnating is that its product looks almost exactly like it did when it launched ten years ago."
He concluded: "It's time for Twitter to build and innovate. Not every new idea launched will succeed -- but if it launches enough new features, some will surely find a wider audience. And a wider audience is exactly what Twitter needs."
Media experts gave their opinion to The Drum on the mammoth task ahead of Dorsey, check it out here.