As Twitter CEO Dick Costolo prepares to step down and Jack Dorsey takes the reins on an interim basis, Sard Verbinnen is helping the social network communicate about the transition, according to TechCrunch.
Sard is listed as a press contact on Twitter’s statement about the change, which was published on Thursday afternoon. The firm was also listed at the bottom of Twitter’s Securities and Exchange Commission filing about the transition, which is set to take place on July 1.
Sard MD Paul Kranhold declined to comment, and Twitter reps would not confirm the relationship immediately.
Under Costolo, Twitter has struggled to add members and generate more revenue from its ad products. Many on Wall Street have criticized Costolo and called for him to be replaced.
Yet many employees aren’t happy to see Costolo go. They flocked to the social network, many using the hashtag #ThankYouDickC, to express their gratitude.
No one has ever inspired me like @dickc. Most thoughtful, intelligent and compassionate leader ever. #ThankYouDickC #LoveWhereYouWork
— Alex Kowalsky (@alexmk) June 11, 2015
Even Twitter shareholder Chris Sacca, who earlier this month said the company was failing to tell its own story, posted a positive note about Costolo on his Twitter page.
In under five years as CEO, @dickc grew Twitter from a $3b valuation to a $23b valuation. Credit where credit is due. Thanks, Dick.
— Chris Sacca (@sacca) June 11, 2015
Meawhile, Costolo welcomed Dorsey, Twitter’s co-founder and former chief, back to the role on the social network.
Welcome back, @jack !! https://t.co/3papmyUKg0
— dick costolo (@dickc) June 11, 2015
Dorsey will manage the company while it looks for a permanent successor. Back at Twitter for what Bloomberg News called his "Steve Jobs moment," Dorsey sidestepped questions about whether he will seek the job on a permanent basis amid demands that he quickly boost revenue. He’ll remain CEO of Square.
Twitter’s shares were up 6% in after-hours trading following the announcement.
PR pros took to the social network to question what the CEO change means for Twitter moving forward.
What do you think this will mean for Twitter? https://t.co/mLfLR983IL
— Ruder Finn (@RuderFinn) June 11, 2015
Opens up app--->sees Rupert Murdoch becoming CEO of Twitter joke--->shivers--->closes app
— BPLewis (@BPLewis) June 12, 2015
IMO ad $ is one thing, but they also need to corral all of the data and streamline content for users. https://t.co/mYrvQtGP44
— Jason Ouellette (@JayOuellette) June 12, 2015
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