Twitter's CEO Dick Costolo will step down on July 1. Meanwhile, the confined 140 character limit for direct messages will be extended in coming weeks.
Twitter's chief executive (CEO) Dick Costolo has stepped down and will be replaced on an interim basis by former CEO Jack Dorsey. The change is effective from 1 July.
Costolo has had a tough time of things recently and his departure from the position was not unexpected.
Twitter's financial performance and growth has been under the spotlight of late, but Dorsey said that this is not the thinking behind his stepping down.
"One thing I do want to make clear is that this transition is not the result of anything more than Dick deciding to move on from his role as CEO. There is no connection with our near-term results," he said during a conference call, according to a report on Re/code.
Costolo added in an official Twitter announcement: "I am tremendously proud of the Twitter team and all that the team has accomplished together during my six years with the company.
"We have great leaders who work well together and a clear strategy that informs our objectives and priorities. There is no one better than Jack Dorsey to lead Twitter during this transition.
"I am deeply appreciative of the confidence that the board, the management team and the employees have placed in me over the years, and I look forward to supporting Twitter however I can going forward."
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