Posted October 17, 2008 9:49 am by with 10 comments

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Proving that just because you came up with the great idea, doesn’t mean you can run the company, Twitter has announced that Jack Dorsey will step down as CEO and Ev Williams will take his place.

We’re entering a new phase now and there are new kinds of challenges ahead. Healthy companies acknowledge the need for change even during the best of times. As Twitter grows both internally and externally, we took a good look at our path forward and saw the need for a focused approach from a single leader.

While the board of directors and the company have nothing but praise for where Jack has taken us, we also agree that the best way forward is for Jack to step into the role Chairman, and for me to become CEO. Jack will remain on the board and be closely consulted for all strategic decisions, while I take on day-to-day operations with the support of Biz, Jason, Greg, and the rest of this impressive Twitter team.

Sure, it sounds amicable–which is the norm in these situations–but you can’t help but think that investors were perhaps disappointed with Jack’s leadership of Twitter. After all, three years in and Twitter still hasn’t found a revenue model that matches its Silicon Valley hype.

I’m sorry, but I suspect that it will be only a matter of months before we hear of Jack Dorsey leaving his new role as Chairman to “explore other opportunities” or “spend more time with his family.”

Jack, no hard feelings. Thanks for the awesomeness that is called Twitter.