Twitter has named co-founder Jack Dorsey as chief executive officer, betting its co-founder and former leader will be able to revive its fortunes in a second spell at the helm.
The social-media company has failed to impress investors following its 2013 initial public offering.
With Mr Dorsey chosen as CEO, it would mark his second reign at the company that he helped start in 2006. He was Twitter’s original CEO until being cast aside in 2008 in a coup engineered by another company co-founder, Evan Williams.
Mr Dorsey remained Twitter’s chairman and one of its largest shareholders with a 3pc stake currently worth about $600m. He returned as a company adviser shortly after Mr Costolo replaced Mr Williams as Twitter’s CEO in 2010.
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