Previously fired as CEO in 2008, Jack Dorsey stepped as Interim CEO earlier this year when Dick Costolo stepped down. Today, he runs Twitter as its newest permanent CEO, facing a number of challenges that have troubled the social media site since the last quarter.
Earlier this year, the board of directors began subtly announced that they were looking for a CEO who would be willing to commit to the job full time – subtly hinting that Jack let go of running, “Square.”
However, even as Twitter’s Interim CEO, Dorsey continued to run the mobile payments start-up, and proved to be an efficient and effective leader for both companies. It was then that that Twitter’s board of directors finally agreed that Dorsey could continue running both companies.
According to board members, Dorsey “accelerated the pace of product improvements started last year by his predecessor, Dick Costolo, and communicated frequently and openly with employees. He also demonstrated a willingness to delegate many of his duties to his senior team, including Adam Bain, Twitter’s president of global revenue and partnerships, who was promoted to chief operating officer.”
Dorsey, who accepted the position, shares that he is honored by the trust that the board put in him to run the company – even if the board has member Evan Williams who was instrumental in Dorsey’s 2008 firing.
Dorsey went on to say that he would focus on “disciplined execution, simplifying the service and communicating Twitter’s value to users.” With that being said, Dorsey faces the undertaking of dealing with significant growth problems, declining user rates, inflated stock multiples and several other challenges.
Nevertheless, Dorsey seems ready and able to take on the challenges and says that no one is more determined than he is.
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