Twitter Chief Executive Officer and Co-founder, Jack Dorsey has resigned from his position.
In a statement on Monday, the social media platform said Dorsey has stepped down from his position to focus on other investments.
The company disclosed that Dorsey has been replaced by Twitter Chief Technology Officer, Parag Agrawal, who had been in charge of strategy involving artificial intelligence and machine learning.
According to the statement, Dorsey will stay on the board through till the 2022 meeting of stockholders to help with the transition before leaving entirely.
The statement added Salesforce President and COO Bret Taylor will become the Chairman of the Board, replacing Patrick Pichette, who will remain on the board as chair of the Audit Committee.
Also in a statement, Dorsey said he decided to leave Twitter because it is “ready to move on from its founders.”
He stated that Agrawal was chosen to lead the company given his knowledge of the company and its needs.
“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. There aren’t many founders who choose their company over their own ego.
“There’s a lot of talk about the importance of a company being ‘founder-led.’ Ultimately I believe that’s severely limiting and a signal point of failure,” Dorsey said in a statement.
not sure anyone has heard but,
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
— jack
(@jack) November 29, 2021
Dorsey, who co-founded the social media giant in 2006, served as CEO until 2008 before being pushed out of the role. He returned to Twitter as the boss in 2015 after former CEO Dick Costolo stepped down.
This article was originally published on Naija News