Jack Dorsey is named CEO of Twitter after he convinced the board that he can run Twitter and his payments start-up company, Square, at the same time. He has been serving as the interim CEO since Dick Costelo resigned back in June of this year. Some investors welcomed the news with positive enthusiasm, while others demand an explanation and had asked Dorsey to let Square go if he wants to take on the CEO role for Twitter.

As one of the founders of Twitter, Dorsey was credited with the idea to share status updates using 140 characters or less. Twitter hopes that by bringing back one of its pioneers, it can finally set on the task to compete with Facebook as the leading social media for online advertising. The company's recent management changes has been one of the roadblocks they've faced this year.

Dorsey's goal is to make Twitter more user friendly and also make it more enjoyable for its current users. One of the biggest changes, so far, is the emojis used on direct messages. It now has the same size as stickers used in Facebook or Snapchat. There are also unconfirmed rumors that the 140 character limit on regular tweets will be dropped, the same way direct messages adopted the idea recently.

Dorsey's challenge is not limited to making Twitter better. He still has to prove to some investors that he can juggle two major companies, who happen to be street neighbors, at the same time. In an interview with Wall Street Journal, Wells Fargo analyst Peter Stabler said that if he was a shareholder of either Twitter or Square, he would feel like he's getting the short end.

Fortunately for Dorsey, the board has not outlined any requirements as to how he should split his time. Peter Currie, a Twitter director on the committee, has consulted with institutional shareholders when they started searching for a replacement but has not spoken to them since. Square, on the other hand, made a statement saying Mr. Dorsey has the "ability, passion and commitment" to lead both Twitter and Square effectively.