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image source, Reuters
American tech entrepreneur Jack Dorsey is no longer CEO of Twitter on Monday.
He will be replaced by the social network’s current technical director, Parag Agrawal, the company announced.
Dorsey, who co-founded Twitter in 2006, was the CEO of both the social network and digital payments company Square.
“It’s finally time for me to go”, He wrote in a statement that the company was “ready to move forward.”
Dorsey said he had “profound” confidence in his replacement and was “extremely grateful for his skill, heart and spirit.”
“It’s his driving moment,” he said.
Agrawal joined Twitter in 2011 and has been CTO since 2017.
Dorsey received Pressure from some investors to quit smoking Last year because they wanted a dedicated CEO.
“I love Twitter”
Rumors began Monday morning about Dorsey leaving the social network’s executive management after he himself posted a “I love Twitter” message on his account on Sunday.
Dorsey, 45, co-founded the company with Biz Stone, Evan Williams, and Noah Glass in 2006.
however, Dorsey has become the visible face of the company, where he posted his first tweets about the service and his long tenure as CEO.
He resigned as CEO of Twitter in 2008 and founded the digital payments app Square, which has also grown into a multi-million dollar company.
However, Dorsey returned to managing Twitter in 2015 following the resignation of former CEO Dick Costolo.
His social media role led him to testify before members of the US Congress about Twitter’s role in spreading misinformation.
image source, Reuters
In October 2020, Jack Dorsey participated in a virtual US Congressional Senate committee hearing on the role of networks in society.
Dorsey’s resignation requests began in 2020 from the investment firm Elliot, which owns a large amount of Twitter posts.
The company suggested that it’s best to have a full-time CEO with only one company to manage.
The leadership change comes alongside several other changes to Twitter’s board of directors, including the appointment of Brett Taylor, who was already on the board and a former employee of Google and Salesforce, as the new chairman.
“I would like to thank Jack for his wise leadership and tireless dedication to Twitter since its inception,” Taylor said.
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