Business Costolo, CEO of Twitter Steps Down

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Dick Costolo, Chief Executive Officer of Twitter has stepped down.

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AFP reports that he will be replaced on an interim basis from July 1 by co-founder Jack Dorsey.

A statement by Twitter said Costolo would remain as a member of the Twitter board and that Dorsey would stay as CEO of Square, the financial technology group he founded, during the search for a new chief executive.

''The future belongs to Twitter thanks in large part to Dick Costolo’s dedication and vision'', the statement concluded.
 
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