Twitter boss tweets in new chief as replacement

TWITTER co-founder Evan Williams will hand the chief executive job to chief operational officer Dick Costolo, who joined the fast-growing microblogging company about a year ago to spearhead its money making efforts.

Williams will focus completely on product strategy effective immediately, he said in his blog.

Costolo joined Twitter as chief operating officer in September 2009 after he sold FeedBurner, a web company he had co-founded, to search giant Google in 2007.

Costolo launched Twitter’s first efforts at selling ads on its service earlier this year. Costolo said the so-called Promoted Tweets and Promoted Trends advertising services were “successful beyond our wildest dreams”.

He said that privately-held Twitter does not disclose revenue or comment on whether the company is profitable. Williams said Twitter has more than 165m registered users, up from just 3m when he became chief executive two years ago.