Twitter CEO Jack Dorsey steps down
December 8, 2021
Jack Dorsey is venturing down as CEO of Twitter, the organization he helped to establish in 2006, and will be supplanted by the organization’s CTO, Parag Agrawal, Dorsey and the social stage said on Monday.
In an assertion on his exit from Twitter, Dorsey recorded an assortment of reasons he was leaving, essentially saying he would rather not limit the organization’s potential by having it be “organizer driven.” He additionally communicated support for Agrawal and said he would keep on serving on the load up until “May-ish” to help the new CEO, just as another load up seat.
Dorsey said his exit was taking effect right now.
The declaration that Dorsey would be supplanted came soon after a CNBC report prior Monday referred to sources saying he would venture down before very long. Separate reports referring to sources later said Dorsey’s exit had been arranged since last year, and his substitution had as of now been picked.
Nasdaq immediately suspended exchanging Twitter stock after the organization’s worth shot up around 10% at the reports of Dorsey venturing down.
Dorsey said the abdication was his choice alone, however, he was supposedly almost eliminated from his situation as CEO last year after financial backers became worried about his double CEO jobs with Twitter and Square. At that point, Dorsey arrived at an arrangement to stay in his position.
Agrawal has filled in as CTO with Twitter starting around 2017 and has been with the organization for north of 10 years. The new director, Bret Taylor, will supplant Patrick Pichette, who will keep on serving on the board.
In an assertion on his new situation as CEO, Agrawal said he is “respected” and “lowered” to take up the job. Taylor likewise delivered an assertion where he adulated Dorsey for getting back to the CEO job in 2015 and turning the “organization around at the most crucial time.”
