Twitter named interim Chief Executive Jack Dorsey as its permanent CEO on Monday. Dorsey has served as interim CEO for the past three months, after former Dick Costolo stepped down on July 1.
Dorsey will remain the head of fast-growing mobile payments company Square, potentially setting up a conflict of interests for the co-founder of both companies.
Twitter previously said the CEO job would be a full-time position, which seemed to exclude Dorsey as long as he continued to run Square.
Twitter had once dumped co-founder Jack Dorsey as its CEO because he was deemed unqualified for the job. Now, after a temporary stint as the interim CEO, Dorsey is being a chance to prove he can turn Twitter into a profitable business and lure more people into sharing tidbits of news, entertainment, insight and tedium.
Jack Dorsey was a one-time punk rocker who once wore a nose ring. Dorsey is sometimes touted as the technology industry's next Steve Jobs - a comparison that he has never discouraged.
Dorsey's appointment as Twitter's CEO draws more parallels with Jobs, Apple's co-founder. After being ousted from Apple in the mid-1980s, Jobs came back as the company's interim CEO in 1997 and then stayed on oversee the creation of the iPod, iPhone and iPad.
While running Apple, Jobs also was CEO of computer animation pioneer Pixar. Dorsey, will remain CEO at Square, while guiding Twitter.
With inputs from agencies
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