After more than 100 days, Twitter may finally have a permanent CEO.
Re/code is reporting that Twitter cofounder Jack Dorsey will soon be named chief executive of the company he helped build. Dorsey has been serving as interim CEO since June when Twitter's former chief exec Dick Costolo stepped down from the role. Re/code reports the announcement could come as soon as tomorrow.
The rumored news isn’t all that surprising. For the past few months, Dorsey has led the company as its interim head. During this time, Twitter has actively tested new products and announced new partnerships. Dorsey seems to have support from both inside and outside the company.
However, Twitter's search committee originally said it would consider only candidates who could make a "full-time commitment" to the company. As CEO of Square, Dorsey seemed to be disqualified, assuming he also remained head of the mobile payments upstart. And yet some investors, like Chris Sacca and Keith Rabois, have since said publicly that they believe Dorsey has—and can—run both Square and Twitter effectively at the same time. Re/code reports that Dorsey will remain CEO of Square as well.
The feat would nonetheless be a challenge as the two companies have very different needs. Twitter is a public company valued at upwards of $17.5 billion that faces questions about how it can grow its user base and revenue. Square, meanwhile, is a growing private company most recently valued at $6 billion, which reportedly plans to file for an IPO before the end of this year.
Twitter declined to comment on this report.
