Twitter wants a 'full-time' CEO

In what could be read as a subtle message to co-founder Jack Dorsey, Twitter said it is looking for a CEO with a "full-time commitment" to run the service.

The board has formed a search committee and hired executive search firm Spencer Stuart to find outgoing CEO Dick Costolo's replacement.

The board said it will be looking at candidates both inside and outside of Twitter and would take the time necessary to find the right person, CNET reported.

With Twitter chairman and co-founder Dorsey taking the reins as interim CEO on July 1, there is speculation that he could make the job title permanent.

But the wording of the board's statement could hint at Dorsey's other engagement as the CEO of mobile-payments start-up, Square. Whether it suggests that Dorsey is not in contention or that he should drop his other gig is unclear.

Twitter is moving quickly after Chris Sacca, one of Twitter's earliest and biggest investors, said the handling of the CEO transition was "sloppy and confusing".

In response, Twitter said it was moving with a "sense of urgency".

Twitter's lead independent director and chair of the search committee, Peter Currie was quoted as saying that the board has "utmost confidence" in Dorsey's ability to lead as they search for a new CEO.