SAN FRANCISCO: Twitter co-founder Jack Dorsey is expected to stay on as the company’s chief, bringing an end to the company’s plodding search for a top executive, according to a report Wednesday.
Tech news website Re/code cited unnamed sources as saying that Dorsey’s shift from interim to permanent chief executive at Twitter could be announced as early as Thursday.
Dorsey will continue to run digital payments service Square, which he founded about five years ago.
In the fast-moving world of Silicon Valley, Twitter’s search for a new chief executive has been moving at a snail’s pace, raising concerns about deeper woes at the social media platform.
The San Francisco-based one-to-many messaging platform has been searching for a new leader since Dick Costolo announced on June 12 he was stepping down, with Dorsey holding the job on an interim basis since July 1.
The unusually long search has some investors and analysts worried over the future of Twitter, which has failed to ignite the kind of growth that many had anticipated when it launched its public offering in 2013.
Over the past three months, several reports had suggested that a decision was imminent, but Twitter itself has remained mum on the subject.
The euphoria around Twitter has faded since its November 2013 IPO.
Although it has boosted revenue and engagement, its global user base has struggled to get over 300 million, and it has never made a profit.