Twitter co-founder and CEO Jack Dorsey resigns: The Newsfeed

Posted by Jennifer Adetoro in News

2 months ago

After 16 years at the company, Twitter co-founder Jack Dorsey stepped down from his role as chief executive. In an email sent to staff on Monday, which he also posted publicly in a tweet, Dorsey shared he believes the importance of a company being “founder-led” is “severely limiting and a single point of failure.” With this, it was announced the company’s chief technological officer, Parag Agrawal, would be assuming the chief executive role, while Dorsey is set to remain on the board until Twitter’s stockholder meeting in 2022. This abrupt move comes 18 months after Twitter stakeholder Elliott Management stated Dorsey couldn’t effectively run both Twitter and his digital payments company Square, where he remains CEO.

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