Dorsey Twitter confirmed as permanent CEO – Financial Journal

Twitter yesterday appointed co-founder and interim CEO Jack Dorsey as permanent CEO, ending months of speculation about who would assume leadership of the company.

Dorsey remain
director of mobile payments company Square, fast growth, which is also co-founder, which could cause conflicts of interest.

Twitter
previously said the executive director would be full-time position, which seemed to exclude Dorsey if he continued in command of Square.

Some investors have expressed concern about whether Dorsey will follow the command of Twitter and Square, expected it goes public later this year.

Despite Twitter’s actions last recorded heavy losses on rumors of the appointment of Dorsey week, the markets interpreted as a downward yesterday overreaction and papers microblogging network surged almost 7%.

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

Dorsey has served as interim CEO from Twitter former CEO, Dick Costolo, resigned on July 1.

Dorsey will remain a board member of Twitter, but will no longer be president.

“To further simplify the demands on their time, and to ensure that fresh air and bring new leadership to the board, it was decided to separate the roles of chairman and CEO,” said Peter Currie independent director.

Costolo meanwhile resigned from the board on September 30, the company said yesterday.

While
Adam Bain, former president and chief revenue of Twitter, considered the favorite for the top job, he was named chief operating officer of the company.

Powerful tool
Jack Dorsey announced in his Twitter account to control their ambitions the two companies that qualify as “children”. For him, the social network of microblogging is “freedom of expression”. On Twitter we are “for speaking truth to power. And for enhanced dialogue”.

He added that “Twitter is the most powerful tool of communication that exists in our generation. Sample everything else says 10-15 minutes before everyone else. “

In this sense, the work of Dorsey and his team will do” Twitter easy to understand by anyone in the world and give value to those who love to use every day “

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