Jack Dorsey announced today that he’s stepping down as CEO of Twitter, the social network he helped found in 2006. The change is effective immediately.
Dorsey did not say what spurred the sudden move, though in his resignation letter, which he also shared on Twitter, he said, “There has been a lot of talk about the importance of a company being ‘founder-led.’ Ultimately, I believe that’s severely limiting and a single point of failure. I’ve worked hard to ensure this company can break away from its founding and founders.”
not sure anyone has heard but,
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
— jack (@jack) November 29, 2021
Parag Agrawal, the company’s chief technical officer, has been named the new CEO. “The board ran a rigorous process considering all options and unanimously appointed Parag,” Dorsey wrote. “He’s been my choice for some time given how deeply he understands the company and its needs.”