Jack Dorsey, a cofounder of Twitter and the company’s first CEO, may soon return to it on a fulltime basis.  Multiple reports suggest Dorsey is in talks to become Twitter’s chief product officer, or even – though nothing’s been confirmed and no one’s gone on the record – reclaim the title of CEO.

Nicholas Carlson first wrote about these possibilities yesterday after getting in touch with an anonymous source, and a return on Dorsey’s part would make more than a degree of sense.  He’s stayed on a member of Twitter’s board of directors through everything, and more recently, has served as an advisor of sorts, spending perhaps a day a week at its offices.

Also, during Twitter’s celebration of its fifth birthday, Dorsey‘s name came up more than a few times through official channels as everyone remembered that he sent the first ever tweet (visible below).

Anyway, Carlson addressed one possible loose end any move would create by noting, “Current Twitter CEO Dick Costolo will stay with the company, as he is valued for his monetization expertise.”

As for another looming question, it simply remains unknown what would happen at Square, the payments firm Dorsey founded (he serves as CEO there).  Carlson thinks COO Keith Rabois could take over, while Claire Caine Miller suggested Dorsey would stay on.

We’ll be sure to report any updates if this story transitions from rumor to fact at some point.  Unfortunately, neither Twitter nor Square has made much an official statement on the matter at this time.