San Francisco – Twitter on Monday announced that it has
appointed Dick Costolo as its new CEO, replacing co-founder Evan Williams, who
said in a blog post announcing the switch that he will now focus completely on
product strategy. Costolo has served as Twitter’s chief operating officer since
late 2009; previously, he co-founded RSS service Feedburner, which sold to Google in
2007 for a reported $100 million.

Costolo was also an early investor in

"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," Williams wrote in a blog post.

"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."

Williams noted that,
during his two-year tenure as chief executive, Twitter has grown from 3 million
registered users to more than 160 million, while traffic has grown from 1.25
million daily tweets to 90 million today.



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