Twitter names Jack Dorsey as CEO

Twitter has named co-founder and interim chief executive Jack Dorsey as its permanent CEO, ending months of speculation about who would take the reins at the company.

Dorsey will remain head of fast-growing mobile payments company Square, which he also co-founded, potentially setting up conflicts of interest.

Twitter had previously said the CEO job would be a full-time position, which seemed to exclude Dorsey if he continued to run Square.

Some investors had expressed concerns about whether Dorsey could run both Twitter and Square, which is expected to go public later this year.

The move comes at a time when Twitter is working to rekindle user growth. Twitter’s second-quarter monthly average users grew at the slowest pace since the company went public in 2013.

Dorsey has served as interim CEO of the social network since former CEO Dick Costolo stepped down on July 1.

Dorsey will continue to serve as a member of Twitter’s board, but will no longer be chairman. Costolo resigned from the board on September 30.

“We’re working to change the composition of our board,” Dorsey tweeted.


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