Dick Costolo is out as CEO of Twitter not so much for what he did wrong, but because he didn’t do nearly enough right.

“He hasn’t been able to come up with a cohesive and successful business strategy that sends Twitter results to the stratosphere,” said Dan Olds, an analyst with The Gabriel Consulting Group. “Could anyone have done that? Who knows? But Costolo hasn’t done it and he’s going to take the hit for that.”

Twitter announced Thursday that Costolo, who went from COO to CEO at Twitter in 2010, will leave the social networking company on July 1.

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