Dorsey to be named as permanent CEO of Twitter

Twitter removed the limit from the platform’s direct message feature in August and added the “quote tweet” feature in April to enable users to pass judgement on the posts they are retweeting.

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When this happens, Dorsey will be one of the few CEOs who run two important companies at once.

The announcement comes as Twitter struggles to stay relevant and attract more users. Problem is, overcoming the challenges Twitter is facing – a glance at its share price says it all – requires a full-time commitment, even for someone as skilled and emotionally invested as Dorsey.

VatorNews has reached out to both Square and to Twitter for comment.

Dorsey took over as Twitter’s interim CEO in July, replacing former stand-up comedian and veteran entrepreneur Dick Costolo. In subsequent years, Dorsey founded Square, mended his image and slowly moved up Twitter’s corporate ranks.

Citing sources, the outlet said Dorsey could be named as chief executive as early as today, though that could be pushed back as the board decides on roles for other executives, including revenue chief Adam Bain and financial head Anthony Noto. Currently, he is also the acting CEO of mobile payment service Square, a position he has repeatedly made known that he intends to keep as he gears up for a public offering.

But the stock leapt 5% higher overnight on Wall Street after reports first emerged over the plans to name Mr Dorsey as chief executive, in a sign of investor confidence in the group’s boss.

Steve Jobs held that honour when he served as the head of Apple while overseeing Pixar, and Elon Musk splits his working life between Tesla Motors and Space X. Upon stepping down, Costolo praised Dorsey in a Bloomberg interview, calling him the “inventor of the product” and saying that he possesses “this fluency about the way he thinks about the product…that’s nearly remarkable”.

Making Dorsey the company’s permanent CEO is “not ideal”, wrote Monness Crespi Hardt analyst James Cakmak in an industry note on Thursday.

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A book called Hatching Twitter by Nick Bilton later claimed that he was a poor manager who handled criticism badly and took credit for ideas which weren’t his.

Jack Dorsey Twitter CEO