The New York Times reported on Tuesday that Twitter’s executive team has undergone a major shake-up, highlighted by co-founder Evan Williams stepping down from his role as CEO. Williams will be taking on a new role in leading product strategy for the micro-blogging site. His role as CEO will be filled by current COO Dick Costolo.
In a post on the Twitter blog, Williams said that the recent growth of the company and its attempts to find a way to monetize its service made him realize that he enjoyed focusing on that aspect of the business.
“I am most satisfied while pushing product direction,” he wrote. “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.”