Sorry, Snoop Dogg: Jack Dorsey is now the CEO of Twitter

Dick Costolo leaves the board

Twitter has appointed Jack Dorsey, one of the social network's co-founders, as its new CEO.

Dorsey, who has been serving as "interim CEO" since Dick Costolo stepped down in June, will again be the company's permanent chief executive. Dorsey will continue to work as CEO of mobile payments company Square, which he also founded.

Dorsey's appointment has been expected for some time, especially as some of the company's biggest investors have been very vocal in their desire for him to return as chief. Dick Costolo will be stepping down from the board, while Adam Bain (who was also on "the list" of CEO potentials) is being appointed Twitter's COO.

Dropped like it's hot

"We're working hard at Twitter to focus our roadmap on a few things we can make really great," said Dorsey on Twitter. "And we're strengthening our team along the way."

"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!"

The news will be a blow to Snoop Dogg, who expressed his desire to head up Twitter after Costolo stepped down.

Which, frankly, is a bit of a shame - we liked one fan's proposal to rename retweets as "retwizzles".

Dorsey's appointment comes at an important time for Twitter. The social network is struggling to grow its user base and all eyes will be on Dorsey to see how he can turn things around.