Dick Costolo out as CEO of Twitter 

Twitter CEO Dick Costolo is stepping down from his role beginning July 1, according to a filing submitted with the Securities and Exchange Commission Thursday. Twitter co-founder and current Square CEO, Jack Dorsey, will take over as Interim CEO, according to a second filing.Costolo, who has been on the hot seat for months, will remain on the company’s board. Twitter stock is up almost eight percent in after-hours trading on the news.

Source: Dick Costolo out as CEO of Twitter | Re/code