UPDATE: Nov. 29, 2021, 10:55 a.m. EST It's official. Jack Dorsey tweeted that he has resigned from Twitter and that Twitter CTO Parag Agrawal will replace Jack Dorsey as Twitter CEO.
Dorsey's tweet includes a screenshot of the email he sent internally to employees at the company. In it, he says Agrawal was picked unanimously by the board to replace him. According to Dorsey, Agrawal was his personal pick as well.
As to why he's leaving? Dorsey claims that it's "severely limiting" for Twitter to be a "founder-led" company. He says it was his decision to leave based on what's best for Twitter. Dorsey will stay on the board until "May-ish" to help with the transition and then leave, without any role in the company.
"My one wish is for Twitter Inc to be the most transparent company in the world," he added at the end of his resignation email.
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Our original story is below.
Twitter will soon have a new CEO.
That is, if the rumors of Jack Dorsey's plan to step down pan out.
According to a report by CNBC, sources have told the outlet that Twitter CEO Jack Dorsey is planning to vacate his executive role at the popular social network.
Dorsey has long been criticized by some Twitter shareholders for his dual-CEO role at both Twitter and the payment processing service Square. The two companies are huge within each's respective industries, causing many to question the time commitments that Dorsey is able to make between them.
Outside of the business world, Dorsey has also been critiqued over the content allowed on Twitter as a platform. The Southern Poverty Law Center (SPLC) put out a scathing report over the summer, knocking Dorsey's perceived connections with certain far-right figures that are still allowed to use Twitter. The SPLC series also calls out the the platform's role in the events of Jan. 6 when supporters of former-President Trump violently stormed the Capitol building in Washington, DC.
Although, this issue may not get any better with Dorsey out of the picture. One major Twitter stakeholder that's been leading the charge to replace Dorsey as CEO is Elliott Management. The firm was founded by billionaire Republican mega-donor Paul Singer. The two struck a deal in April of this year though, so it's unclear if it played any role in Dorsey's departure.
Mashable has reached out to Twitter for more information and will update this post if we hear back.
However, Dorsey did tweet this out the other morning. Maybe we shouldn't look too much into it? Or maybe we should?
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Topics X/Twitter
