Roughly a month after letting go of Twitter's reins, Dick Costolo may be completely disposed. Twitter's board is mulling a move to restructure itself, which may entail pushing Costolo out, according to Bloomberg.
Costolo may be removed from the board as the company pushed for more diversity, according to Bloomberg and its unnamed sources. That diversity includes bringing in minorities and people with experience in related industries.
Twitter will likely wait until after it appoints a permanent CEO before it re-tunes its board. Jack Dorsey, one of three CEOs on Twitter's board, has stepped as Twitter's CEO for the interim, though that could be long-term if one board member has his way.
Twitter Investor Chris Sacca took to his favorite social networking site to endorse Dorsey as permanent CEO of Twitter.
On behalf of many investors, analysts, users, advertisers, media partners, and Twitter employees, it's clear who should be Twitter's CEO:
— Chris Sacca (@sacca) August 7, 2015
Twitter should name @jack as full-time CEO and promote @adambain to President and COO. @ev should become Executive Chairman of the board. — Chris Sacca (@sacca) August 7, 2015
The other two individuals, which Sacca refers, are Ev Williams, former CEO of Twitter, and Adam Bain, Twitter's president of Global Revenue and Partnerships. As for Costolo, Sacca hasn't had anything to say about the former CEO.
Nearing six years as the CEO of Twitter, Costolo started talking with the social networking company's board about a succession plan last year. Back in June, Costolo explained why he was stepping down and asserting that he wasn't exactly "done."
"About the end of last year, I said, 'Look, at the end of next year, it will be my sixth year with the company. I came in as the COO. The board asked me to do this in the fall of 2010. And it's time. Let's start thinking about what the succession plan looks like.' So it was the end of last year when I started it," said Costolo.
Costolo later went on to say that he felt like he was on the board "indefinitely." Twitter is always looking for new board members and people to bring new perspective, he said.
"When the time comes that the board decides, or the shareholders decide, that it's time for someone else to step into that role, I will be totally fine with that," Costolo said.
