Twitter CEO Steps Down, Stock Goes Up

Twitter CEO Dick Costolo (@dickc) is stepping down July 1 and will be replaced by co-founder Jack Dorsey (@jack) on an interim basis. 

Twitter confirmed the news via the Twitter investor relations Twitter account.  Two minutes later, the main Twitter Twitter account tweeted the news as well, using the godawful hashtag #TWTRannouncement (it's just too many characters y'all). 

In a statement, Twitter said Costolo would remain on the Twitter's Board of Directors and Dorsey will continue as CEO of Square.

In news that's got to kind of sting for Costolo, Twitter's stock price jumped almost 8% after the announcement, according to the San Francisco Business Times


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