New Delhi, Nov 29, : , Jack Dorsey announced Monday that he will be stepping down as chief of Twitter after 16 years of service. Dorsey stated in his latest tweet, “Not sure if anyone has heard”, but he resigned from Twitter.
Dorsey cited three reasons for his resignation: 1) Parag Agrawal was appointed as Twitter CEO; 2) Bret Twain agreed to be Board chairman; and 3) All Board members have the potential for a change in the direction of the company.
Dorsey will continue to be a member until his term expires at 2022 stockholders meeting.
Dorsey posted a tweet on Sunday about his love for Twitter.
The 45-year old co-founded the company in 2006 with Evan Williams, Biz Stone, and Noah Glass.
Dorsey, who had been appointed CEO of Twitter in 2008 and was re-inducted as CEO in 2015
Square, his digital payments company, is still led by Dorsey.
Parag Agrawal, the new CEO, joined the company as an ads engineer in 2011.
He eventually rose to the position of CTO in 2018.
He was responsible for strategy involving Artificial Intelligence (AI) and Machine Learning.
Agrawal completed research internships at AT&T and Microsoft before joining Twitter.
Agrawal was appointed to the Board.
The Company also announced that Bret TAYLOR, a member since 2016, has been named Independent Chairman of the Board.
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