Twitter Hires CEO Search Firm, Rules Out Jack Dorsey As Dick Costolo’s Replacement
Company says it's looking for someone who can "make a full-time commitment to Twitter."
Twitter has hired a hiring search firm to help the company find a replacement for soon-to-be-departed CEO Dick Costolo.
The company shared an update on its progress today, saying it’s formed a Search Committee to find Costolo’s replacement, and that committee has hired Spencer Stuart, an international executive recruiting agency to help find its new CEO.
At the same time, Twitter essentially announced that interim CEO Jack Dorsey won’t get consideration for the job because he’s also the CEO of payments company Square:
The Committee will only consider candidates for recommendation to the full Board who are in a position to make a full-time commitment to Twitter. The search is proceeding with a sense of urgency but the Committee will take the time necessary to find the right CEO to lead the next phase of Twitter’s growth.
On the conference call discussing Costolo’s departure, Dorsey said that Twitter is “looking for someone who really uses and loves the product in every single way.”
Twitter announced 11 days ago that Costolo would step down from the CEO role on July 1st, with Dorsey taking over on an interim basis. At that time, Dorsey said he plans to continue his position as Square’s CEO while also running Twitter.