CEO of Twitter Dick Costolo to Step down from the Post
Posted: Jun 12,2015
The Chief Executive Officer of Twitter Dick Costolo suddenly made announcement of his stepping aside from his present position. He stepped down in middle of all the speculations about the company’s slow user growth and the lack of ability to draw advertisers at an equal rate as its rivals. For the time being he will be replaced by the co-founder Jack Dorsey on an interim basis. But this news is not at all surprising to the management consultants as Twitter is neither doing any good to its users nor to its marketers.
Costolo stated in his resignation that he is announcing his resignation before the selection of a CEO because he wants to ensure transparency in the search procedure. He also said that the organization will take into consideration both internal and outside candidates and it has the robust management team than ever before. He also said that the scrutiny of the organization will increase if he held onto his position. Dorsey made clear that the search has not still begun but they are interested in recruiting a candidate who uses Twitter regularly and appreciates the product.
Chief financial officer of Twitter Anthony Noto said that Costolo did not get any severance package as he stepped down on his own and nobody asked him to.