Twitter founder and CEO Jack Dorsey announced his resignation

Twitter founder and CEO Jack Dorsey released an open letter on Twitter last night, in which Jack Dorsey announced that he would no longer serve as CEO.

The replacement of Jack Dorsey as CEO is Twitter’s Chief Technology Officer Parag Agrawal, while Jack Dorsey temporarily retains his seat on Twitter’s board of directors.

By the time the Twitter shareholders meeting is held in 2022, Jack Dorsey’s board of directors will also expire. At that time, Jack Dorsey will leave Twitter completely and only as a Twitter investor.

It has been 15 years since Jack Dorsey created Twitter in 2006. Jack Dorsey believes that the founder’s departure from the company will help maintain the company’s independent survival.

Parag Agrawal is an Indian-American. He has been a software engineer on Twitter since 2011, CTO in 2017, and now CEO.

In the all-staff email, Jack Dorsey explained why he had to resign because Jack Dorsey believes that the limitations of the founders leading the company are not conducive to the company’s development.

Many people are discussing the importance of the founder leading the company, but Jack Dorsey believes that this is a serious limitation and a single point of failure, and the independent generation of the company is very important.

Jack Dorsey hopes that Twitter can be separated from its founding foundation and founder. Jack Dorsey said that it is very important for a company to survive independently without the influence of the founder.

Since Jack Dorsey stated in the open letter that his resignation is effective immediately, Parag Agrawal has become the new CEO of Twitter starting today.

Via: CNBC