Shares of Twitter (TWTR) climbed on Friday after news that its chief executive, Dick Costolo, will step down. Costolo, who resigned voluntarily, has been the subject of scrutiny over the company’s slow user growth and advertising struggles. Twitter co-founder Jack Dorsey will resume the helm, serving as interim CEO until a permanent replacement is found. But Rick Summer, equity strategist at Morningstar, said he’s not convinced that Dorsey will spark significant innovation or change at Twitter. He notes that Dorsey was brought back to the company in 2011 as chief product visionary, and has already had the opportunity to change the product at Twitter. Summer explains that he expects to see some continued marginal innovation at Twitter — but he doesn’t see anything too compelling in the move. He also reveals whether there’s a pattern in companies’ performance after their CEOs have been pushed out or fired — and what we might be able to expect from Twitter going forward.
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