As expected, Twitter has announced that interim chief executive officer Jack Dorsey will become the permanent CEO of the company, with members of the board fully supporting the decision.

Dorsey has been the favorite candidate to become the new CEO of Twitter, although it wasn't always certain that he would assume the role on a permanent basis. At least one board member questioned Dorsey's ability to be the CEO of two companies simultaneously - Dorsey is also CEO of mobile payment company Square - but ultimately this was deemed a non-issue and he will continue on as CEO of both businesses.

The appointment of Dorsey as interim CEO followed the announcement earlier this year that Dick Costolo would be stepping down after six years in the position. Costolo has now left Twitter's board entirely, while revenue chief Adam Bain has stepped up into the role of chief operating officer. Bain was one of several other candidates for the CEO role, as was CFO Anthony Noto.

In a tweet posted earlier today, Dorsey laid out Twitter's plan for the future in a simple 140 characters.

Dorsey also stated that he will do "whatever it takes" to ensure Twitter grows its worldwide impact, saying the platform is "the most powerful communcations tool of our time".