Twitter’s Jack Dorsey Steps Down As CEO With Resignation Note Posted On Twitter
Image via Frederic Legrand - COMEO / Shutterstock.com
Jack Dorsey, who co-founded Twitter back in 2006, has officially announced his departure as the Chief Executive Officer of the platform. The firm’s current Chief Technical Officer Parag Agrawal will take over at the helm going forward.
“It’s finally time for me to leave,” said Dorsey in a statement.
Passing on the position as the head of one of the world’s largest social media brands, Dorsey remarked he had “deep” trust for Agrawal, saying: “I’m deeply grateful for his skill, heart, and soul. It’s his time to lead.”
According to the BBC, Agrawal had joined the company a decade ago, and has been leading its technology division since 2017. It’s rumored that Dorsey’s decision to leave might’ve been due to pressure from investors, who didn’t appreciate him running Square—a separate digital platform—concurrently.
In a letter penned to staff and personally posted online, Dorsey said that while there was an emphasis for companies to be “founder-led,” he believed such a stance was “severely limiting and a single point of a failure.”
not sure anyone has heard but,
— jack⚡️ (@jack) November 29, 2021
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
He confirmed he would be leaving the board altogether, as “it’s really important to give Parag the space he needs to lead.”
“Parag is CEO starting today,” he clarified. “I’m going to serve on the board through my term (May-ish) to help Parag and [new board chair] Bret [Taylor] with the transition. And after that… I’ll leave the board… I want you all to know that this was my decision and I own it. It was a tough one for me, of course.”
Dorsey signed off his note with the message: “P.S. I’m tweeting this email. My one wish is for Twitter Inc to be the most transparent company in the world. Hi mom!”
I love twitter
— jack⚡️ (@jack) November 28, 2021
[via BBC, cover image via Frederic Legrand - COMEO / Shutterstock.com]
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