Twitter's Dick Costolo steps down as chief executive

Baku.12 June. REPORT.AZ/ Dick Costolo is stepping down as chief executive of Twitter, the company has announced.

Report informs referring to the BBC, the social messaging service's co-founder Jack Dorsey will take over as interim chief on 1 July and stay until a replacement can be found.

Mr Costolo had been under pressure from investors unhappy with the firm's user growth.

In a statement, he said he was "tremendously proud of the Twitter team".

Twitter said that its board had formed a committee to undertake the task of finding a successor.

Following the announcement, shares in the company jumped by more than 7% in trading after US markets had closed.