Re/code reports that Twitter co-founder Jack Dorsey will become the company's permanent CEO after filling the seat in an interim position for the past few months. The news could become official as soon as Thursday, though it's possible the announcement could be delayed.

Dorsey will apparently retain his current position as CEO of Square as well, serving double duty for the two companies he helped create. Twitter's CEO search committee previously stated that the social network's next leader would need to be totally devoted to the job, but it looks like that didn't work out.

Over the summer, Dorsey remained a likely candidate for the position. Previous reports suggested Twitter's head of revenue Adam Bain was a top contender. However, Bain apparently wouldn't accept the position unless Dorsey rejected it first.

Re/code also notes that the news could trigger several top executives to leave the company. Dorsey can apparently be a pretty tough boss to work with, but he may be the one person who can help Twitter bounce back.