Dick Costolo is likely exiting the Twitter board once it has a new CEO
Ethan Miller/Getty Images
The changes may be announced when the company names a permanent CEO, Bloomberg said.
Re/Code and the New York Times both reported Saturday that the change isn't just likely - it's inevitable.
Citing sources close to the matter, both news outlets said that Costolo will leave the board once a new candidate is selected.
The change is intended to make the board more diverse, according to the Bloomberg report.
The board may expanded or shuffled to represent directors from diverse backgrounds, such as minorities and those with experience in adjacent industries, including advertising and e-commerce, the people familiar with the matter said.
Twitter declined to comment.
Costolo stepped down as CEO on July 1 and the company named co-founder Jack Dorsey as interim CEO.
Last week, Twitter said its number of monthly average users grew in the second quarter at the slowest pace since it went public in 2013.
Aside form Dorsey, other possible candidates for CEO include former Yahoo Inc CEO Ross Levinsohn; Mike McCue, CEO of newsreader app company Flipboard; Instagram founder Kevin Systrom; and Evan Williams, CEO of blogging website Medium, according to SunTrust Robinson Humphrey.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Markets rebound sharply on buying in bank stocks firm global trends
- Bengaluru's rental income highest in Q1-2024, Mumbai next: Anarock report