Spin cycle: press start.
Speaking on an investor call this afternoon, Dorsey insisted the “transition is not anything more than Dick deciding to move on from his role as CEO.”
Dorsey’s claim contrasts the recent narrative of Costolo’s run as CEO, which has garnered significant criticism from investors like Chris Sacca over its direction and short-term performance.
Meanwhile, the market appears happy; in after-hours trading, Twitter’s stock jumped nearly 9 percent before settling back down.
Costolo, also on today’s investor call, said he first “initiated talks with the board” late last year … around that time, analysts like Robert Peck proclaimed such a change was imminent. Lucky guess?
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn more about membership.