Twitter Inc (TWTR.N) co-founder Jack Dorsey, who has been acting chief executive of the company for the past three months, is expected to be named permanent CEO as early as Thursday, technology website Re/code reported, citing sources.

The microblogging website operator’s shares were up 2.8 percent at $26.32 in afternoon trading on Wednesday.

Dorsey will “apparently” continue to be CEO of mobile payments company Square, Re/code said. (on.recode.net/1WyyUw4)

There is also likely to be a shakeup of Twitter’s board, with previous CEO Dick Costolo leaving, Re/code said.

Twitter declined to comment.

Dorsey has not dismissed the idea of becoming permanent CEO of Twitter while staying at Square, but Twitter’s board has said its next CEO needed to be focused solely on the company.

Other names that have been mentioned as potential candidates for the top job at Twitter include Adam Bain, the company’s president and head of revenue; former Yahoo Inc (YHOO.O) CEO Ross Levinsohn; Mike McCue, the CEO of newsreader app company Flipboard; Instagram founder Kevin Systrom; and Evan Williams, CEO of blogging website Medium.

(Reporting by Devika Krishna Kumar and Anya George Tharakan in Bengaluru; Editing by Savio D’Souza)

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