From: Daniel Sabba
Sent: 6/11/2015 5:20:59 PM
To: jeffrey E. fieevacation@gmail.com)
CC: Richard Kahn ; Paul Morris Stewart Oldfield
; Vahe Stepanian Ariane Dwyer UMIIMI
Subject: FW: (BN ) Costolo Steps Down as Twitters Chief Executive Officer (1) (C)
Classification: Confidential
Shares jumped in late trading, rising as much as 13 percent
Original Message
From: Daniel Sabba (DEUTSCHE BANK SECURI) [mailto:
Sent: Thursday, June 11, 2015 5:20 PM
Subject: (8N) Costolo Steps Down as Twitter's Chief Executive Officer (1)
(8N) costolo steps Down as Twitter's chief Executive Officer (1)
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costolo steps Down as Twitter's chief Executive officer (1)
2015-06-11 20:26:09.886 GMT
(updates with company comment in third paragraph.)
By Sarah Frier
(Bloomberg) -- Twitter Inc. said Chief Executive Officer Dick Costolo is stepping down, reflecting
the social -media company's struggle to define its vision in the months following its initial public
offering.
Shares jumped in late trading, rising as much as 13 percent after the company announced the
management change. Jack Dorsey, a co-founder, will take his place in the interim until the company can
find a replacement, Twitter said in a regulatory filing. Dorsey's appointment, effective July 1, signals
that the company is focusing on improving its product after a slew of leadership changes in the past five
years.
"Jack has a profound understanding of the product and Twitter's mission, as well as a great
relationship with Twitter's leadership team, which will facilitate a smooth transition," the company said
in a statement. Costolo will remain on the San Francisco-based company's board.
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