Jack Dorsey, the co-founder, and chief executive officer of Twitter Inc., is stepping down from the helm of the social network, ceding the position to Chief Technology Officer Parag Agrawal.
Jack twitted that “The company is ready to move on from its founders,” Dorsey said in the statement. “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.”
Bret Taylor has now been appointed the Chair of Twitter’s board of executives, and Jack Dorsey will remain on Twitter’s board through May 2022 to aid in the transition after which Dorsey plans to leave Twitter. “I believe it’s critical a company can stand on its own, free of its founder’s influence or direction,” says Dorsey in his email.
I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company… and all of you so much. I’m really sad… yet really happy. There aren’t many companies that get to this level. And there aren’t many founders that choose their company over their own ego. I know we’ll prove this was the right move.