JACK DORSEY NAMED CEO OF TWITTER

Jack-Dorsey

Twitter is embracing Jack Dorsey as its CEO in hopes that its once-spurned co-founder can hatch a plan to expand the short messaging service’s audience and end nearly a decade of financial losses. Dorsey, 38, has already had dress rehearsal for the job, having become Twitter’s interim CEO in July after former stand-up comedian and veteran entrepreneur Dick Costolo stepped down amid shareholder discontent. Dorsey will no longer be Twitter’s chairman, but he will continue as CEO of Square Inc., a company he co-founded in 2009, as he prepares that company for its initial public offering of stock. Since Dorsey became interim CEO, Twitter already has already tossed out the 140-character limit private messages sent through Twitter.

AP