5 October 2010
The co-founder of social networking site Twitter is standing down as its chief executive.Evan Williams, who has headed the company since 2008, is being replaced to allow him to focus on ways of making Twitter more profitable.
Announcing the decision on Twitter's blog, Mr Williams said Twitter needed to "meet its potential as a profitable company".He will be replaced by the current chief operating officer, Dick Costolo.
Twitter has grown dramatically in recent years, with user numbers now topping 160 million, compared with three million two years ago.
But Mr Williams said that in order to continue to be successful, the company now needed to start converting that growth into profit."Growing big is not success in itself," he said.