Jack Dorsey, the Twitter co-founder who has led the company since June on an interim basis, will officially become the company's new CEO, according to reports. Dorsey is also the CEO of mobile payment company Square; it's uncertain whether he will try to hold both jobs.
Dorsey "is expected be named the company's new permanent CEO as early as tomorrow," according to the Recode website, which cites unidentified sources.
Twitter has been searching for a permanent CEO since the exit of Dick Costolo on June 11, following a first-quarter net loss of $162 million.
The news comes as calls have grown for Dorsey to run both Twitter and Square, which in late July filed papers for an initial public offering.
As CNBC reported Monday, "Steve Jobs simultaneously led two companies, Apple and Pixar, as chief executive. Elon Musk is running Tesla and SpaceX. Now more people are saying that Jack Dorsey can permanently run two companies at the same time, too."