Twitter co-founder says goodbye after 16 years.
Twitter CEO Jack Dorsey has announced his resignation after 16 years at the microblogging company. His resignation, effective immediately, will see the company’s former Chief Technology Officer Parag Agrawal take his place.
Dorsey’s decision to resign on the weekend just passed comes as he feels the site is ready for a change in leadership. “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,” Dorsey said in a company statement. Dorsey continues by highlighting that he believes the talk about the importance of a founder-led company is “severely limiting and a single point of failure”.
“All of you have the potential to change this company for the better. I believe this with all my heart.”
Despite Dorsey’s immediate resignation, he will not be able to completely step away from the company until his board term expires around May 2022. From now, he will be turning his full attention to his role as CEO of Square. A digital payment and financial service he launched in 2009 alongside Jim McKelvey.
As for Twitter, the company have goals to double its revenue to US$7.5 billion by 2023. And if Parag Agrawal is as good as Jack Dorsey so strongly claims, we have no doubts this will be achieved.
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