SAN FRANCISCO—Twitter may be about to end its three-month search for a new CEO where it started: with once-ousted co-founder Jack Dorsey running the short-messaging service.
Dorsey will be named Twitter’s permanent CEO as early as Thursday morning, according to the technology news site Re/Code. The report Wednesday cited unnamed people.
Twitter declined to comment.
Dorsey took over as Twitter’s interim CEO in July, replacing former stand-up comedian and veteran entrepreneur Dick Costolo. The change in command came amid slowing user growth that exacerbated investor concerns about Twitter’s ability to become more accessible to a wider audience.
Twitter has more than 300 million users, far behind the 1.5 billion people hooked on Facebook’s online social network. Even Facebook’s photo-sharing application, Instagram, has surpassed Twitter in size.
Worries about Twitter’s future have been compounded by the San Francisco company’s inability to turn a profit more than nine years after its inception, even though its revenue has been steadily rising. Shortly after becoming interim CEO, Dorsey acknowledged Twitter’s sub-par performance during a review of the company’s disappointing second-quarter results.
The qualms about Twitter’s future have sunk its stock, which has fallen by nearly 50 percent since late April. The shares rallied after Re/Code’s report came out to gain $1.35, or more than 5 percent, closing Wednesday at $26.94 in an apparent vote of confidence in Dorsey.
