Twitter's outspoken CEO Dick Costolo is stepping down from his role beginning July 1, according to a filing submitted with the Securities and Exchange Commission.
Co-founder and current Square CEO, Jack Dorsey, will take over as Interim CEO while the firm finds a permanent replacement.
Dorsey, who will continue to serve as CEO of Square Inc, previously served as Twitter's president and CEO from May 2007 to October 2008.
Twitter's Board has formed a Search Committee to lead the search for a permanent CEO.
The Search Committee is chaired by the Board's Lead Independent Director, Peter Currie, and includes Peter Fenton.
Snoop Dogg has professed an interest in becoming chief executive of Twitter after the announcement that current chief Dick Costolo is to step down.
The rapper, briefly known as Snoop Lion during a short-lived reggae phase, tweeted: “I’m ready to lead @twitter!”, following up with: “First order of business, get that moolah!”
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