Ex-CEO Dick Costolo may Leave Twitter Flock

NEW YORK: Twitter’s board is weighing a shakeup that could involve the exit of former chief executive Dick Costolo (in picture), Bloomberg reported, citing people familiar with the matter. The changes may be announced when the company names a permanent CEO, Bloomberg said. The New York Times has reported that the change isn’t just likely — it’s inevitable.

Citing sources close to the matter, both news outlets said that Costolo will leave the board once a new candidate is selected. The change is intended to make the board more diverse, according to the Bloomberg report.

The board may expanded or shuffled to represent directors from diverse backgrounds, such as minorities and those with experience in adjacent industries, including advertising and ecommerce, the people familiar with the matter said.

Twitter declined to comment. Costolo stepped down as CEO on July 1 and the company named cofounder Jack Dorsey as interim CEO. Last week, Twitter said its number of monthly average users grew in the second quarter at the slowest pace since it went public in 2013. — Business Insider.