"It's been a privilege to bring incredible entrepreneurs into the #flock like @kayvz, @crazyfoo, @valwagoner, @jeffma, @dlach5, @gabor."
"I can't wait to witness the company's next chapter under @jack, a truly gifted leader and human being," he added. In latest developments, Twitter said it is looking for a CEO with a "full-time commitment" to run the service. The board has formed a search committee and hired executive search firm Spencer Stuart to find outgoing CEO Costolo's replacement. The board said it will be looking at candidates both inside and outside of Twitter and would take the time necessary to find the right person, CNET reported. With Twitter chairman and co-founder Dorsey taking the reins as interim CEO on July 1, there is speculation that he could make the job title permanent.