And back to my previous point, I believe it's critical a company can stand on its own, free of its founder's influence or direction," Dorsey concluded. Why not stay or become chair? I believe it's really important to give Parag the space he needs to lead. The 37-year-old became CEO of the company in November when its co-founder Jack. In his farewell message, Dorsey said "Parag is CEO starting today" while disclosing that he (Dorsey) was going to serve on the board through my term (May-ish) to help Parag and Bret (the new Board chair) with the transition." "And after that.I'll leave the board. Twitter’s new CEO, Parag Agrawal, is reportedly taking a few weeks off for paternity leave after the birth of his second child, a move that drew cheers from other fathers as a positive step towards normalizing men taking time off for childcare. Speculation about Dorsey's exit or ouster had raged for months amid reports of differences with other board members. The social media platform attracts ire from all quarters and all comers - from left liberals who believes it often folds to pressure from authoritarian governments and leaders and from the conservatives on the right who believe liberals have a run of the platform while they are being censored. We failed to do that here & we must do better to serve our customers in India," she explained. Twitter strives to be an impartial platform for all. "I know we'll prove this was the right move.The company later apologised through Vijaya Gadde the company's legal head who was also in the mix to head Twitter after Dorsey's exit, who said the poster "is not reflective of our views." "We should have been more thoughtful. And there aren't many founders that choose their company over their own ego," he wrote. "There aren't many companies that get to this level. "But our critical challenge is how we work to execute against it and deliver results - that's how we'll make Twitter the best it can be for our customers, shareholders, and for each of you."ĭorsey shared an email to staff members announcing his departure on Twitter, describing it as "a tough one" but as his own decision. "I believe that strategy to be bold and right," Agrawal wrote in a note to Twitter employees on Monday. Only recently has it introduced new features, such as Twitter Blue, a subscription service for frequent users, and Twitter Spaces for audio chats, as part of an ambitious effort to more than double annual revenue and attract new users. The microblogging platform has stayed largely the same for years. While Twitter is popular among celebrities, politicians and the media, it has been slow to innovate compared with top competitors such as Facebook, Snapchat and TikTok. Technology Jack Dorsey, Twitter's Eccentric CEO, Could Be Looking For A Job Soon The hedge fund backed off its demand, however, after striking a deal with Twitter management. It argued that Twitter should have a CEO solely focused on running the company. The hedge fund Elliot Management, a major shareholder, sought to replace Dorsey last year. He returned to the top job in 2015.ĭorsey is also CEO of Square, the financial payments company he founded in 2009, and has been criticized by some investors for leading two public companies at once. He was Twitter's founding CEO but left the company once before after a falling out with a fellow co-founder. It's his time to lead."ĭorsey will remain on the company's board of directors until May of next year. I'm deeply grateful for his skill, heart, and soul. His work over the past 10 years has been transformational. "My trust in Parag as Twitter's CEO is deep. "I've decided to leave Twitter because I believe the company is ready to move on from its founders," Dorsey said in a statement. Twitter stock rose on the news, which was first reported by CNBC. He will be replaced by Twitter's chief technology officer, Parag Agrawal, a 10-year veteran of the company. Jack Dorsey is stepping down as CEO of Twitter, the social media company he co-founded in 2006. Here he's shown at a bitcoin convention in June. Jack Dorsey is stepping down as the CEO of Twitter, which he co-founded.
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