Twitter’s troubled CEO, Dick Costolo, will resign from the organization on July 1, the organization said in an administrative recording on Thursday. Twitter co-founder and director Jack Dorsey will serve as interval CEO while the board searches for a long term substitution, the organization said at press conference.

Costolo has been under weight from investors, some of whom called for him to leave not long ago, as the microblogging webpage has been attempting to support income development and draw in new clients. The main quarter denoted Twitter’s weakest quarterly income development as an open organization, and client attraction has been abating.

Costolo’s prerogative comes only a week after ahead of schedule financial specialist and elite rich person Chris Sacca, one of the organization’s biggest investors, composed a 8,500-word remedy for how Twitter needs to change and upgrade its item to stay important and make the stage more easy to understand. Twitter’s initiative group additionally saw a shake-up a year ago when Costolo supplanted his COO and top developer, product and money related officials.

Costolo additionally accentuated that he “started” discourses around an authority move with the board as right on time as the ending of last year.

“Taking after talks with the full load up in February and our meeting a week ago, we concurred this is the ideal time to start this move,” Costolo said on the call. “I felt like the examination of the organization would escalate in the event that I remained CEO while the inquiry procedure proceeds.