Twitter Co-Founder Dorsey Returns To Head Product Development

Twitter co-founder Jack Dorsey, who stepped down as CEO of the company two and a half years ago, is returning to a day-to-day role at the company in order to lead its product development, according to a Tweet by CEO Dick Costolo. Dorsey’s title will be executive chairman.

Dorsey was replaced as Twitter’s CEO by fellow co-founder Evan Williams in October 2008 — an experience he later compared to having been “punched in the stomach.” Williams himself stepped down in October, saying he wanted to focus on the company’s “product strategy” — a role that will now presumably be assumed by Dorsey.

Since leaving his day-to-day role at Twitter, Dorsey founded hot mobile payments startup Square. He will stay on as CEO of that company, saying in a tweet of his own that he will be leading Square “forevermore.”