Twitter’s CEO Dick Costolo steps down, Jack Dorsey takes over

Besieged Twitter CEO Dick Costolo will depart the company, the social media network announced yesterday. Co-founder Jack Dorsey will serve as interim CEO starting July 1. Twitter Inc. shares surged eight percent after the announcement. Since Twitter went public in 2013, the company has struggled to attract new users and develop fresh forms of advertising. “I am tremendously proud of the Twitter team and all that that team has accomplished together during my six years with the Company,” said Costolo. Twitter may be next in line to be acquired; Google is one of the possible named choices so far.

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