Twitter co-founder and CEO, Jack Dorsey announced today he has departed the company. Chief Technology Officer (CTO) Parag Agrawal will lead the company while Bret Taylor takes over as the new board chairman.
“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 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” said Dorsey in a statement released by the company. Dorsey remains the CEO of Square and will continue to remain a member of the Twitter board until his term expires around May 2022. He continued as Twitter CEO in 2015 after he was forced to leave the role in 2008.
Twitter’s new CEO Parag Agrawal joined the company in 2011 and took the role of CTO in 2017. He was in charge of artificial intelligence and machine learning strategies and was involved in key projects in the company. Agrawal was unanimously appointed as CEO by Twitter’s Board of Directors and Dorsey says he has been “behind every critical decision that helped turn this company around.”
“I want to thank the Board for their confidence in my leadership and Jack for his continued mentorship, support, and partnership,” said Agrawal in a statement. “I look forward to building on everything we have accomplished under Jack’s leadership and I am incredibly energized by the opportunities ahead. By continuing to improve our execution, we will deliver tremendous value for our customers and shareholders as we reshape the future of public conversation.”
In an email shared on Twitter, Agrawal said “the world is watching us right now, even more than they have before. Lots of people are going to have lots of different views and opinions about today’s news. It is because they care about Twitter and our future, and it’s a signal that the work we do here matters. Let’s show the world Twitter’s full potential!”