Jack Dorsey is going to become Twitter’s permanent CEO

If you’re wondering what caused that moderate jump in Twitter’s stock price earlier today, it probably has something to do with the fact that the company will be making Jack Dorsey its CEO. The co-founder and former CEO has been serving as Twitter’s interim CEO for a few months now following Dick Costolo’s decision to step down, but a Recode is reporting that his position is going to become a permanent one. The announcement is expected to be made as soon as tomorrow, and clearly investors are liking the decision. 

The decisive leadership of a founder could be what’s necessary to bring Twitter’s value to the masses. And apparently that’s what it’s going to get, as Re/Code reports Twitter has made the decision to bring its co-founder and Square chief Jack Dorsey back as CEO. He’d been serving as Twitter’s interim CEO for four months since Dick Costolo chose to step down. The announcement could be made as soon as tomorrow, and head of revenue Adam Bain reportedly refused the CEO job as long as Dorsey wanted it. After months of confusion at Twitter amongst prevalent feelings its product must change to embrace mainstream usage, Dorsey coud rally morale with the mandate only available to someone who started the company. Founders are simply afforded a special trust from employees. Dorsey is who’s widely credited with the spark to create a public microblogging service. The belief that his ideas got Twitter this far could bolster confidence in Dorsey making drastic product updates. While Twitter has become immensely popular and important to a user base of 316 million, it may take changes that anger its early adopters in order to bring Twitter’s value to the masses.