Twitter COO Dick Costolo is replacing Evan Williams as the CEO of Twitter, the company announced in a blog post Monday.
Evan Williams wrote,
The challenges of growing an organization so quickly are numerous. Growing big is not success, in itself. Success to us means meeting our potential as a profitable company that can retain its culture and user focus while having a positive impact on the world. This is no small task. I frequently reflect on the type of focus that is required from everyone at Twitter to get us there.
This led to a realization as we launched the new Twitter. I am most satisfied while pushing product direction. Building things is my passion, and I've never been more excited or optimistic about what we have to build.
This is why I have decided to ask our COO, Dick Costolo, to become Twitter's CEO. Starting today, I'll be completely focused on product strategy.
Mashable calls Williams' post a "shocking announcement," while All Things Digital describes it as a "move that tech types have been murmuring about for some time," given that Williams' interests lie more in product development, rather than in generating revenue. TechCrunch agrees, noting "talk of [Costolo] taking over as Twitter CEO has also been around for a long time." CNET also cited Costolo's work in monetizing Twitter in its explanation for the shift: "Costolo has been instrumental in developing Twitter's fledgling business model, currently centered on a system of "promoted" tweets, trends, and accounts."