Twitter tells interim CEO Jack Dorsey he must quit Square to bag position permanently

22 Jun 20159 Shares

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After Dick Costolo’s surprise decision to leave his role as Twitter CEO earlier this month, Jack Dorsey, the leader of e-payments firm Square, stepped in to the position on an interim basis, and is currently leading both companies simultaneously. However, the social network has today (22 June) warned Dorsey that, if he wants the job full-time, he’ll have to quit Square.

In a message to investors, Twitter said that it will only consider candidates “who are in a position to make a full-time commitment”. It is likely a response to a statement Dorsey gave to Re/Code on Tuesday that asserted his commitment to Square despite the appointment. “As I said last week, I’m as committed as ever to Square and its continued success,” said the 38-year-old. “I’m Square CEO and that won’t change.”

Dorsey co-founded Twitter in 2006, going on to serve as its full-time CEO. His latest stint in the position appears to be very much temporary though, unless, of course, he decides that returning to his old stomping grounds is a more appealing prospect than continuing to lead Square. In any event, Twitter has retained Spencer Stuart, a leading global executive search firm, to assist in a search process that will include both internal and external candidates.

In a statement, Peter Currie, Twitter’s lead independent director and chair of the committee, offered an additional glimpse into their recruitment policy, stating that the board are looking for a “bold thinker and proven leader capable of helping Twitter fully capitalise on its unique platform for the benefit of users, advertisers and employees, and to maximise value for investors in the years ahead”.

Costolo’s decision to step down is understood to have been his own choice, with the constant criticism of his work and achievements taking a personal toll. “I am tremendously proud of the Twitter team and all that the team has accomplished together during my six years with the company,” he said upon leaving the firm.

Twitter image, via Shutterstock

Dean is a freelance journalist and editor covering media.

editorial@siliconrepublic.com