After months of searching, Twitter finally has a permanent CEO. The position was given to the current interim CEO, Jack Dorsey.
The news was confirmed by Dorsey himself via the social network, of course.
"We are naming @adambain COO of Twitter, we're working to change the composition of our Board, and I will serve as CEO of Twitter and Square!“ he said in a tweet.
An SEC filing reveals that the company formally made the decision on September 30 and also that "there are no plans to provide Mr. Dorsey with direct compensation" for his role as Twitter's chief executive.
Dorsey, one of the social media's co-founders, held the position of interim CEO since June, when former CEO Dick Costolo decided to step down.
Following the news of his appointing, Dorsey tweeted on what his goals in the future will be.
"Our work forward is to make Twitter easy to understand by anyone in the world, and give more utility to the people who love to use it daily!"
Twitter has seen turbulent times in 2015. It struggled to grow, with Instagram surpassing it in the number of active users. Its CEO, Dick Costolo, left the company in June, and Twitter has had a hard time finding a new one since then.
In an attempt to fuel user growth, Twitter has recently acquired Periscope, a mobile live video streaming app, which allows Twitter users to livestream video from their smartphones directly to their followers.
The app has been a success, but also raised a lot of privacy and piracy concerns.