Social Media

Cramer: Why Jack Dorsey as Twitter CEO is good news

Jack Dorsey officially named Twitter CEO

Jack Dorsey's appointment as Twitter's permanent CEO is good news for the company for one simple reason, CNBC's Jim Cramer said Monday.

"Dorsey is a uniter," Cramer told "Squawk on the Street." "This is a man who has great respect internally; I think you can start seeing the big turmoil being over."

The social media company made the appointment permanent earlier Monday, about three months after former Chief Executive Dick Costolo stepped down.

Twitter shares were up 1.5 percent midmorning Monday, but are down more than 25 percent in 2015 and more than 50 percent in the past 12 months.

Dorsey will also remain as CEO of Square, a mobile payment start-up.