Twitter to Name Jack Dorsey as Permanent CEO (Report)

Jack Dorsey - S 2015
Esten Hurtle/Courtesy of Twitter

Jack Dorsey - S 2015

Dorsey, who is also CEO of payments startup Square, has been serving as interim CEO for the past three months.

Twitter is set to make Jack Dorsey's CEO position official, Re/code reports. He has been serving as interim CEO for the past three months, since former CEO Dick Costolo stepped down.

Dorsey's appointment could be announced as early as Thursday, Re/code adds. Twitter declined to comment on the report. 

A Twitter co-founder, Dorsey was an early CEO but left the company in 2008 before returning as executive chairman in 2011. In the interim, he founded payments startup Square and became that company's CEO. 

Dorsey, 38, has been considered a top candidate for the full-time Twitter job despite the fact that he is already leading Square. Many Twitter investors have called for Dorsey to get the job, noting that he has a history with the company and a strong product background that could help revitalize the platform's stagnant user growth. 

But the CEO search committee in June said that being Twitter CEO would be a full-time job, signaling that Dorsey would have to leave his post at Square, which recently filed for an IPO, if he wanted to run Twitter. But Re/code now reports that Dorsey will remain at Square while also leading Twitter. Several tech CEOs, after all, have run more than one company at the same time, including Steve Jobs at Apple and Pixar and Elon Musk at Tesla and SpaceX

In June, Dorsey led his first investor call as interim CEO, sounding very much like the company's leader when he outlined his goals to improve Twitter and noted that new products had "no meaningful impact at growing our audience. It's unacceptable, and we're not happy about it." 

Twitter's stock is currently trading up nearly 3 percent to $26.27 on the news.