Twitter faces a big dilemma as the CEO at the helm of affairs of the company is being changed. Twitter CEO Dick Costolo said he wanted to be changed as the CEO of the company.
Board members announced that July 1 is to see a new CEO at the helm of affairs in the company. Twitter's co-founder and former chief Jack Dorsey is to take over as the company's chief executive in the interim period while they look for a new CEO.
Costolo has steered the company for the past five years through thick and thin. Costolo has been aware of the decline in popularity of the social networking portal. Twitter's popularity on the Wall Street has also come down in the past few years. In the wake of all this, Costolo had declared to his friends in January that he did not value a boost in the company ranks any more.
The problem has been that Twitter has failed to cash in on the increase in the number of users in the recent past. Quite a few users have abandoned their accounts with Twitter after the initial excitement. Twitter also lacks an appeal for the masses as its rival Facebook has.
Growth has been very slow over the years, and its financial performance has also been quite dismal. The company's management has been at a loss when it comes to figuring out how to close the gap between the dismal performance of the company and the expectations of the investors.
Twitter is being projected as the ultimate format for providing updated information on all subjects.