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Twitter founder steps down as CEO

Monday, October 4, 2010





NEW YORK (CNNMoney.com) -- Twitter co-founder Evan Williams is stepping down as the company's CEO, with COO Dick Costolo taking over as the company's new chief executive.
Before joining Twitter one year ago, Costolo was the founder and CEO of media distribution service Feedburner, which was acquired by Google (GOOGFortune 500).
Promoting Costolo frees Williams up to be "completely focused on product strategy," Twitter's creator wrote in a blog post announcing Costolo's new role.
"Building things is my passion, and I've never been more excited or optimistic about what we have to build," Williams wrote.
Costolo says he and Williams are "perfectly complementary" business partners.
"He takes a very long view and thinks very hard about the product strategy and the product vision," Costolo told CNN Money.com in a recent interview. "I kind of take the 'here are the things we need to do day-to-day operationally, and this is what we need to have done by tomorrow and this is the way we need to measure that to move forward.' So the two of us working together works beautifully."

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