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Jack Dorsey Steps Down As Twitter CEO, Parag Agrawal Takes Over

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Twitter co-founder and CEO, Jack Dorsey is leaving the company. He is stepping down as chief of the social media giant effective immediately but will remain a member of the Board until his term expires in “May-ish” 2022. CTO (chief technology officer) Parag Agrawal has taken over from him as the new CEO of Twitter. Agrawal has been at the company for more than ten years and has served as the CTO since 2017.

“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep. His work over the past ten years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” Dorsey said in the company’s official statement.

As part of this executive shuffling, Salesforce President and COO (chief operating officer) Bret Taylor will succeed Patrick Pichette as the new Chairman of the Twitter Board. Pichette, a former Google executive, will also remain on the Board, continuing his position as chair of the Audit Committee.

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Jack Dorsey is leaving Twitter

Jack Dorsey, who co-founded Twitter in 2006, served as the company’s founding CEO until 2008 when co-founder Evan Williams took over from him. But he returned to lead the social network once again in 2015 following then-CEO Dick Costolo’s resignation. Now, after a second stint of six years at the top, he is leaving Twitter for once and all.

In a letter to employees, Dorsey said he chose not to stay at Twitter or become chair because “it’s really important to give Parag the space he needs to lead”. He also reiterated that the company can stand on its own, “free of its founder’s influence or direction.”

Dorsey added that the new CEO Parag Agrawal knows what it takes to lead a company like Twitter. He believes Twitter is in safe hands under Agrawal, who has worked his way up after joining the company as an ads engineer in 2011. “All of you have the potential to change the course of this company for the better. I believe this with all my heart!” Dorsey said. “I know we’ll prove this was the right move.”

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Agrawal does have his task cut out though. Twitter is facing a host of challenges. With younger people liking TikTok and Instagram more, the company is experiencing slower growth. Its moderation policies on hate speech and misinformation have also been a subject of controversy lately. It now remains to be seen how the face of Twitter changes following the exit of Jack Dorsey.