Twitter has officially named Jack Dorsey its new permanent CEO

We all saw it coming, and every rumor we’ve heard this past week has indicated as much, but Twitter made it official today: Jack Dorsey is returning as the company’s permanent CEO. Dorsey has been serving as Twitter’s interim CEO ever since Dick Costolo stepped down from the position a few months ago, which is only natural since he’s one of Twitter’s co-founders and was its first CEO, but the company’s board of directors has been so impressed with his performance that they decided to make the position permanent. There were some concerns about him being able to handle being the CEO of both Square and Twitter, but the boards of both companies don’t think this will be an issue. 

Twitter Inc. named Jack Dorsey as chief executive officer, betting its co-founder and former leader can revive fortunes at a social-media company that has failed to impress investors since its 2013 initial public offering. Dorsey, 38, will also keep his job as CEO of mobile-payments company Square Inc., the payments and financial services company he co-founded in 2009, Twitter said in a filing Monday. “My focus is to build teams that move fast, and learn faster,” Dorsey said in a tweet. “In the past 3 months we have increased our speed and urgency at both companies.” Twitter’s board is turning back to one of the people who started the San Francisco-based company to reignite the product buzz that lured millions of users early on. Dorsey helped pioneer the idea that anyone could use short blogs of no more than 140 characters to share views widely and build followings. Twitter became the go-to platform for reporters, entertainers, politicians, activists and others. Yet in recent years the site has been plagued by management turmoil and a product slowdown while rival sites gained in popularity.