Twitter co-founder and chief executive officer Jack Dorsey on November 29 stepped down from his position. The company’s board has unanimously appointed company’s chief technology officer Parag Agrawal as his successor.
The resignation of Dorsey, who has been heading Twitter as its chief executive since 2015, will come into effect immediately. However, he will remain a member of the Board till around May 2022 to enable a smooth transition.
“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders,” Dorsey said in a statement.
The 45-year-old outgoing CEO expressed faith in his successor, Agrawal, who had joined Twitter in 2011 and was appointed as the company’s CTO in 2017.”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.