JACK DORSEY STEPS DOWN AS TWITTER CEO
Jack Dorsey the founder and CEO of Twitter since 2015 has stepped down and is to be replaced by (the CTO) Chief Technology Officer, Parag Agrawal.
Dorsey has been CEO of Twitter since 2015, presiding over a very globally successful run for the company. In the past couple of years, Twitter started to introduce new products and features and although some of these changes were a bit underwhelming, the app has transformed into a more user-friendly platform adapting to a wide number of interests.
Jack, who is also CEO of Square, a financial services company, took to Twitter on November 29th to announce his resignation from Twitter as CEO and reveals he will be replaced by the company's Chief Technology Officer, Parag Agrawal.
According to the statement Dorsey released, he believes Twitter being a founder-led company is "severely limiting and a single point of failure".
The ex-CEO strongly believes that his successor has all that it takes to run the company as he had been "behind every critical decision that turned the company around".
Although Dorsey is stepping down as CEO, he is seemingly still going to be on the board to help the newbie through a smoother transition.
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