Twitter set to name Jack Dorsey as new permanent chief executive
Twitter's search for a new chief executive may have finally come to an end, and it turns out it didn't have to look too far.
The social media site is set to make current interim boss and co-founder Jack Dorsey its permanent chief executive, according to tech website Re/Code.
Twitter are reportedly poised to make the announcement as soon as tomorrow after spending the summer searching for a new chief to replace Dick Costolo who stepped down from the role in June.
Read more: Twitter's share price jumps as co-founder Jack Dorsey buys $875,000-worth of shares
Dorsey was previously considered out of the running for the role due to his commitment to his other job as chief executive of mobile payment company Square, which recently filed for an IPO.
Twitter issued a statement in which it stated it would "only consider candidates for recommendation to the full board who are in a position to make a full-time commitment", a stance which appeared to rule out Dorsey.
Yet Dorsey's popularity with investors in the club such as Chris Sacca appears to have caused a change of heart on the Twitter board.
The firm's share price, which shrunk to record lows last month amid disappointing growth figures, rose by more than five per cent after reports of Dorsey's permanent appointment surfaced online.