Twitter CEO Jack Dorsey steps down, is replaced by CTO Parag Agrawal
What you need to know
Twitter CEO Jack Dorsey has resigned six years after returning to take the job in 2015.
Dorsey will be replaced by CTO Parag Agrawal.
It’s all change at the top.
Short-form social network Twitter has a new CEO after Jack Dorsey announced his resignation. Twitter’s board has unanimously appointed CTO Parag Agrawal as his successor, according to a press release.
Dorsey had been back at Twitter since 2015 after initially being kicked out of the company in 2008. In the short term, Dorsey says that he will remain on Twitter’s board until the middle of next year, but after that, he’s gone.
not sure anyone has heard but,
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
— jack⚡️ (@jack) November 29, 2021
Why not stay or become chair? I believe it’s really important to give Parag the space he needs to lead. 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 was also quick to make sure that everyone knew he was leaving of his own volition this time around, saying that the move was his decision.
I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company…and all of you so much. I’m really sad…yet really happy. There aren’t many companies that get to this level. And there aren’t many founders that choose their company over their own ego. I know we’ll prove this was the right move.
New CEO Parag Agrawal has been at Twitter since 2011 and was made CTO back in 2018. It isn’t clear whether Agrawal had always been earmarked for the top job, however.
Deep gratitude for @jack and our entire team, and so much excitement for the future. Here’s the note I sent to the company. Thank you all for your trust and support 💙 https://t.co/eNatG1dqH6 pic.twitter.com/liJmTbpYs1
— Parag Agrawal (@paraga) November 29, 2021
What this will all mean in the short and long term isn’t clear. Dorsey remains CEO of Square and there is no indication that will change any time soon.
