Key Takeaway:
- Twitter CEO Jack Dorsey announced that he is leaving the social media platform that he helped start.
- He was leaving the company after 16 years, and Parag Agrawal, chief technical officer, will be taking his position.
Twitter CEO Jack Dorsey announced that he is leaving the social media platform that he helped start.
On Monday, Dorsey, 45, tweeted that he was leaving the company after 16 years, and Parag Agrawal, chief technical officer, will be taking his position.
“I want you to know that this is my decision, and I own it,” he said in a memo to staff, which he shared on the platform.
“It was tough for me, of course. I loved this service and company and all of you so much. I’m unfortunate yet thrilled. There are not many companies that go to this level. And there are not many founders that choose their company over their ego. I know we will prove this was the right move.”
News reports began to circulate early Monday morning that Dorsey was stepping down from the social media giant.
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A source told Reuters that the firm’s board had been preparing for Dorsey’s departure last year.
Dorsey also said board member Bret Taylor would be as chairperson of the board.
Dorsey’s leaving as Twitter has accelerated the pace of its product innovation over the past year to take on rivals like Meta, known as Facebook Inc, and TikTok. Twitter is aiming to reach its goal of doubling annual revenue by 2023.
Source-CTV News
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