Twitter CEO Dick Costolo to resign

After replacing much of Twitter’s top management team last year, Dick Costolo told members of the company’s board that he wanted them to replace him as chief executive, too.

The board granted his wish yesterday, announcing Costolo will step down July 1. Jack Dorsey, Twitter’s co-founder and former chief, will step in as interim CEO as the company seeks a permanent successor, according to the New York Times.

A wealthy former entrepreneur who has led Twitter for five years, Costolo has said he's become tired of second-guessing by wall Street and no longer wants the aggravation.

Read more from the New York Times.