Jack Dorsey is stepping down as CEO of Twitter, according to an announcement from the enterprise. Twitter’s board of directors has unanimously appointed Parag Agrawal as CEO and a member of the board, helpful right away. Agrawal has been at Twitter due to the fact 2011 and was previously main technological know-how officer.
“I’ve made a decision to leave Twitter mainly because I imagine the enterprise is all set to move on from its founders,” Dorsey claimed. “My trust in Parag as Twitter’s CEO is deep. His perform about the past 10 a long time has been transformational. I’m deeply grateful for his ability, heart, and soul. It is his time to direct.”
Latest board member Bret Taylor will come to be the chair of Twitter’s board of administrators. Dorsey will be stepping down from the board in 2022 when his term expires.
Dorsey tweeted a screenshot of the electronic mail that he despatched to employees about his departure. “There is a whole lot of communicate about the importance of a organization being ‘founder-led.’ Finally I believe that that’s severely restricting and a single position of failure,” he wrote. “I think it is really important a firm can stand on its have, totally free of its founder’s affect or path.”