Twitter Names Co-Founder, Jack Dorsey, as New Chief Executive

Jack Dorsey, 38, is also the chairman of Twitter’s board. (Credit: Scott Olson/Getty Images)
Jack Dorsey, 38, is also the chairman of Twitter’s board. (Credit: Scott Olson/Getty Images)

Twitter has named Jack Dorsey, one of the company’s co-founders and the first person to run the Internet service, as its fourth chief executive.

Mr. Dorsey, who is 38, is also the chief executive and chairman of Square, a mobile payments company that is preparing for an initial public offering of stock later this year.

Despite initial concerns, big investors in both companies have grown comfortable with the idea of Mr. Dorsey juggling both jobs.

Mr. Dorsey has pushed a faster pace of product improvement while serving as interim chief since Dick Costolo, the company’s chief executive for about five years, stepped down on July 1.

On Wednesday, for example, the social media company extended the option of including a “buy” button in tweets to millions of merchants, including major retailers like Best Buy.

This week, Mr. Dorsey and other executives are also expected to preview for advertisers a new video product and a feature that will show top tweets by subject, code-named Project Lightning.

Mr. Dorsey, who is also the chairman of Twitter’s board, faces the difficult task of figuring out how to attract new users to the company’s namesake social network while continuing to improve its advertising products. Twitter had an average of 316 million monthly users in the second quarter, a number that has been largely flat for some time.

Despite some changes to make the service easier for newcomers to understand, Twitter still lags other social networks like Facebook and Instagram and major messaging platforms like WhatsApp in popularity. It has also been slow to capitalize on the public’s enormous demand for video, although its new Periscope app has established a strong position in streaming live events.

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The New York Times