Costolo let presidency Twitter. Shares soar 13%
The chief executive of social network micromessaging, Dick Costolo, announced Thursday his departure from office. The replace him on an interim basis is Jack Dorsey, current “chairman”. Market is reacting sharply higher.
Dick Costolo will no longer be the CEO of Twitter, advanced Bloomberg on Thursday, stressing that the decision reflects the battle that social networking has been conducted to define their vision after making the entry in the New York Stock Exchange, on November 7, 2013, with a starting price of $ 26.
occupy temporarily the position of CEO from July 1, will Jack Dorsey, who is co-founder of Twitter. Dorsey will remain as CEO “until the company find a replacement,” said the American technology in a statement quoted by Bloomberg.
This change in chief executive signals that the company is focused on improving Your product after some changes in leadership the past five years, says Bloomberg. “Jack Dorsey has a deep knowledge of the product and the mission of Twitter, as well as a great relationship with the company’s management team, which facilitates a smooth transition”, he stressed the company in the same statement. Costolo will remain on the company’s board of directors
“Costolo has been under pressure from investors, some of whom demanded it -. At the beginning of this year – to resign, this at a time that the social network has struggled to boost revenue growth and attract new users, “said Forbes.
On the New York Stock Exchange actions follow the climbing terrain with this news. In trading outside the regular schedule, the social network “microblogging,” which allows you to write messages up to 140 characters, follows the shooting 13%, having closed the regular session to yield 0.03% to $ 35.84.
Remember that the first tweet was written by Jack Dorsey on 21 March 2006. This network had a strong popularity since its birth. It started as a research project and development within Obvious, a small “start-up” of San Francisco -. Being the original name of the product was twttr, inspired in another social network, Flickr
Initially, Twitter worked only internally in the network Obvious, but in October 2006 was officially released to the public.
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