Twitter CEO to step down

Twitter’s Chief Executive Officer Dick Costolo is set to step down from his position on July 1, 2015, having been in the role since October, 2010. The former entrepreneur will remain on Twitter’s board of directors and the company has iterated that Costolo’s departure is his own decision to move on from his role, and that this move will have no financial impact for stakeholders. Former colleagues have praised Dick across Twitter, using the hashtag #ThankYouDickC.

While Twitter’s board hunt for a new permanent CEO, Jack Dorsay – a co-founder of the social networking site, as well as the first person to send a tweet when it launched in 2006 – will act as Interim Executive Officer.