Twitter considers board shakeup, may include exit of former CEO Dick Costolo

Twitter Inc's board is weighing a shakeup that could involve the exit of former Chief Executive Dick Costolo.

The changes may be announced when the company names a permanent CEO, Bloomberg reported, citing people familiar with the matter. Costolo stepped down as CEO on July 1 and the company named co-founder Jack Dorsey as interim CEO.

Last week, the microblogging site said its number of monthly average users grew in the second quarter at the slowest pace since it went public in 2013.

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 sources said. The change is intended to make the board more diverse.

Twitter declined to comment.

According to SunTrust Robinson Humphrey, other possible candidates for CEO include former Yahoo Inc CEO Ross Levinsohn, Flipboard CEO Mike McCue, Instagram founder Kevin Systrom and Medium CEO Evan Williams.

(Reuters)