Dick Costolo, Twitter CEO has quit his job and co-founder, Jack Dorsey has taken over. This news that broke on Thursday evening is reported by CNN to be because Dick, didn't deliver on his job.
Revenue generation and growth is at the centre of this and with a viable board and many on Wall street calling for him to step down, Dick finally acknowledged and quit graciously after 6 years as boss having risen from being a COO to CEO in 2010. Costolo will quit on July 1 and will be forfeiting his uninvested stock and no severance too and it is said he is quitting will make him even richer, I guess for integrity. The change of leadership will take effect from July 1, four days before my birthday.
Costolo has been trending on Twitter.
I was particularly intrigued by this news because I think Nigerian CEOs need to be structured and disciplined not to allow incompetence thrive if their companies will outlive them. Yes, a CEO needs to leave if he or she does not perform and is not able to bring innovations that will skyrocket revenue.