Co-founder of Twitter, Jack Dorsey resigns as CEO
Jack Dorsey, the chief executive officer (CEO) of microblogging platform Twitter has announced that he is resigning from the responsibilities of the CEO.
Jack was under immense pressure from the board of directors and top management to step down as the CEO of the tech giant company.
The board of directors had a clear stance that Dorsey cannot run two big tech companies as a CEO. It should be mentioned that Jack Dorsey is also the chief executive officer of Square, a payment gateway company established in 2009.
Jack announced in a Tweet that he is stepping down from the responsibilities of a CEO.
Jack Dorsey will continue to be on the list of board members till 2022 when his term contract expires.
Twitter’s chief technical officer Parag Agrawal is going to take over Jack Dorsey’s responsibilities.
“My trust in Parag as Twitter’s CEO is deep… It’s his time to lead,” expressed Jack Dorsey.
“After almost 16 years of having a role at our company…from co-founder to CEO to Chair to Exec Chair to interim-CEO to CEO…I decided it’s finally time for me to leave,” said Jack in his resigning statement.