Founder and Chief Executive of Twitter, Jack Dorsey has stepped down as the CEO.
He posted the news of his departure on Twitter, along with the email he sent out to the company and the employees, saying, “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep. His work over the past 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead.”
Dorsey who co-founded the micro-blogging platform along with Noah Glass, Biz Stone, and Evan Williams in 2006, also founded Square and remains the CEO of the company.
His dual position as CEO for both companies had reportedly raised concerns among investors who felt he was stretched and demanded him to step down from either of the two.
In a news release, Twitter said Dorsey would be replaced by Parag Agrawal, who has been the company’s chief technology officer (CTO) since 2017.
Meanwhile, Parag Agrawal also shared a statement which he sent to the company showing deep gratitude to Jack, and so much excitement for the future.”
