Musical chairs at Twitter this evening, as Chairman Evan Williams is assuming the CEO role, while CEO Jack Dorsey (pictured) is becomes chairman. Williams made the announcement on the Twitter blog:
We’re entering a new phase now and there are new kinds of challenges ahead. Healthy companies acknowledge the need for change even during the best of times. As Twitter grows both internally and externally, we took a good look at our path forward and saw the need for a focused approach from a single leader.
While the board of directors and the company have nothing but praise for where Jack has taken us, we also agree that the best way forward is for Jack to step into the role Chairman, and for me to become CEO. Jack will remain on the board and be closely consulted for all strategic decisions, while I take on day-to-day operations with the support of Biz, Jason, Greg, and the rest of this impressive Twitter team.
It’s Twitter, so of course Williams’ post will be parsed like a statement from the Federal Reserve. Let the speculation and rumours run wild.