Twitter co-founder Dorsey to stay chief - report

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.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
16.51
(+0.01)
ZAR/GBP
21.38
(+0.02)
ZAR/EUR
19.50
(-0.32)
ZAR/AUD
11.62
(+0.26)
ZAR/JPY
0.16
(+0.16)
Gold
1904.85
(+0.12)
Silver
24.55
(+5.02)
Platinum
859.64
(+0.83)
Brent Crude
42.85
(-0.67)
Palladium
2337.01
(+0.55)
All Share
55169.96
(+0.02)
Top 40
50771.58
(+0.06)
Financial 15
9957.72
(-0.20)
Industrial 25
75708.20
(+1.26)
Resource 10
53423.89
(-1.30)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
35% - 7 votes
No, I did not.
30% - 6 votes
My landlord refused
35% - 7 votes
Vote