By Alexander Wilson-
Jack Dorsey, the co-founder of Twitter, is stepping down as CEO of the social media platform, the csocial media giant has announced. has announced.
In a company email published by Dorsey on Twitter, he wrote that he had ‘decided it’s finally time for me to leave’.
Twitter confirmed Chief Technical Officer Parag Agrawal will be taking over the role, effective immediately.The sudden announcement draws the curtain over Dorsey’s shakey tenure as chief executive officer of both Twitter, once characterised by a litany of failures, Twitter stakeholders Elliott Management and billionaire investor Paul Singer calling on him to step down from one of those roles.
The company said Dorsey would step down immediately but that he would remain on the board until Twitter’s stockholder meeting in 2022.
Dorsey, who co-founded the social media platform in 2005 was once pushed out in 2008 before returning to the role in 2015. He is expected to continue to sit on the board of directors until May 2022, at which point he will leave the company entirely.
In his email, Dorsey told the site’s employees:
‘I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company… and all of you so much. I’m really sad… yet really happy. There aren’t many companies that get to this level. And there aren’t many founders that choose their company over their own ego. I know we’ll prove this was the right move.
Dorsey has previously been facing criticism among employees and investors for his perceived lack of leadership and focus on other ventures. The 45-year-old is also CEO of financial payments company Square.
His exit comes 18 months after he survived an attempted ouster by investment fund Elliott Management, which had called on him to step down from one of his CEO positions.
IDorsey has been criticised in the past for leading a social media platform where hate sometimes thrives.
Racist comments, misogynostic attacks against women, and all manner of awful conduct has been known to take place on his platform.