Twitter CEO Dick Costolo To Step Down

Hamilton Nwosa
Writer

Ad

Army confirms killing of four soldiers by Boko Haram in deadly midnight raid on Borno

By Obinna Uballa Four Nigerian soldiers have been confirmed dead and five others injured after Boko Haram terrorists launched a fierce midnight attack on a military base in Ngamdu, along the Damaturu–Maiduguri Road in Kaga Local Government Area of Borno State. The assault, which occurred around 2:30 a.m. on Friday, was met with stiff resistance…

Super Eagles Keep World Cup Dream Alive with Crucial 2–1 Win Over Lesotho

By Obinna Uballa Nigeria’s Super Eagles revived their hopes of qualifying for the 2026 FIFA World Cup with a determined 2–1 victory over Lesotho on Friday, a much-needed result that keeps them in contention ahead of the final round of qualifiers. After a cagey and goalless first half, captain William Troost-Ekong broke the deadlock in…

Oil Drops Below $60 on Gaza Ceasefire

WTI crude fell below $60 per barrel as easing Middle East tensions and weak China–U.S. sentiment erased much of oil’s geopolitical risk premium. Friday, October 10, 2025 The relatively successful implementation of the Israel-Gaza ceasefire deal has lowered geopolitical risk premiums in oil futures and sent front-month ICE Brent prices below $64 per barrel. The…

Ad

Dick Costolo, who helped turn the message start-up Twitter into a global town square, is stepping down amid criticism over the company’s disappointing financial performance and a recent stock slide.

Jack Dorsey, a co-founder who served as CEO during Twitter’s early years, will temporarily take the reins while the San Francisco company looks for a permanent replacement.

However, both Dorsey, 38, and Costolo, 51, expressed confidence on Thursday in the company’s direction and said the board is not seeking major changes.costolo twitter new, company stock

Read also: $1.05bn Illegal Withdrawal: NLNG Fights Back, Dismisses MD’s Involvement

“I believe in the course the company is on and the management team’s ability to fulfill that and execute on it,” Dorsey, who is also board chairman, said during a joint conference call with Costolo and Wall Street analysts.

Both men characterised Costolo’s departure, effective from July 1, as voluntary.

Costolo said he began talking with Twitter directors about leaving last year, although he did not say what he plans to do next.

Read also: Photos: EFCC Arrests Two Chinese Offering N100M Cash Bribe To Official

He will not receive any severance package.

Costolo had been Twitter’s CEO for five years and led the company through a successful stock market debut in 2013.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp