Twitter Co-Founder Jack Dorsey Steps Down


Jack Dorsey, the co-founder of Twitter has stepped down from his executive role.

Dorsey, who posted the first-ever tweet in 2006, will be replaced by Chief Technology Officer (CTO), Parag Agrawal.

Elliott Management and billionaire investor Paul Singer had advised the tech guru to step down from Twitter or Square, his financial payments company.

In an announcement of Monday, the company said Dorsey would exit but remain on the board until the stockholder meeting in 2022.

The 45-year-old explained that he decided to leave because he believes the social media 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 said.

Agrawal thanked the board for their confidence and Jack “for his continued mentorship, support, and partnership”.

The new executive leadership has been with Twitter for a decade and served as CTO since 2017.

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