Twitter co-founder Jack Dorsey has stepped down from his executive role at the social media company.
Dorsey will be replaced by chief technology officer (CTO) Parag Agrawal, the company announced on Monday.
The surprise move ends Dorsey’s much criticized tenure as chief executive officer of both Twitter and Square, his digital payments company, which led to Twitter stakeholders Elliott Management and billionaire investor Paul Singer calling on him to step down from one of those roles.
Twitter’s shares rose 11% after the news broke on CNBC before being briefly suspended.
The company said Dorsey would step down immediately but that Dorsey would remain on the board until Twitter’s stockholder meeting in 2022.
“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. 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,” said Dorsey. » | Dominic Rushe in New York | Monday, November 29, 2021
Jack Dorsey, cofondateur de Twitter, démissionne de son poste de directeur général : Il va être remplacé par le directeur technique du groupe, Parag Agrawal. »
Jack Dorsey resigniert bei Twitter: Das Unternehmen ist bekannt und beliebt, hat aber seine ambitionierten unternehmerischen Ziele meist verfehlt. Nun zieht sich der stark kritisierte Gründer Jack Dorsey resigniert aus der Chefetage zurück und konzentriert sich auf sein «anderes Baby»: Square. »
