Twitter boss resigns – BBC

Dick Costolo left the company amid disavowal of its strategy.

The investor pressure was too strong, Dick Costolo ended up throwing in the towel. Twitter announced Thursday the resignation of its CEO, in office for six years, which will be replaced on an interim basis by one of its founders, Jack Dorsey.

The starting Dick Costolo, who must continue to serve on the board of Twitter, will take effect July 1, the company said, without giving details on the reasons for his departure.

Author of the first “tweet” posted on the social network Jack Dorsey was also the first director general from 2007 to 2008, and today remains the chairman of the board. He is also the patron-founder of Square, a specialist in mobile payments, where he will continue in his current role.

Twitter, entered the stock market in early November 2013, was growing failure. Its latest quarterly results, published in late April, were disappointed. Its turnover of $ 436 million was lower than expected and, for the first time declined from one quarter to another. The results targets had also been revised downwards for the full year. Figures that had led to a drop of more than 20% of its work in two days.

If Dick Costolo had recognized his “disappointment not to have continued to do better than expected”, he n ‘ had failed to respond in substance, the concerns of investors. Born year 2006, the US social network recruits still few subscribers: he was claiming 302 million end of March, or 14 million more than the end of 2014. Moreover, it earns less money than expected for each advertisement broadcast. If he remains one of the players most prominent Web, stormed by celebs, brands and policies – including recently Barack Obama – he barely monetize its audience

. This is what explains that after nine years of operation, Twitter is still not profitable. At this age, Facebook gave off $ 1.5 billion in annual profits, Google 3000000000 …

Twitter has formed a search committee to find a permanent CEO. He said he will also use a headhunter firm to achieve “a global search, which will take into account candidates both internally and externally.” The future boss will write a new chapter of the American social network.