Jack Dorsey leaves Twitter, and Parag Agrawal will be his new CEO

Jack Dorsey has confirmed this Monday that he is leaving the post of CEO of the social network Twitter, whose board of directors has appointed Parag Agrawal as the new top executive, who has developed his career in the company for a decade and has held the position of director since 2017 of technology.

“I have decided to leave Twitter because I believe that the company is ready to leave its founders behind,” announced Dorsey, who has expressed his “deep” confidence in Parag Agrawal as the new CEO of Twitter.

“His work over the last 10 years has been transformative. I am deeply grateful for his skill, heart and soul. It is his time to lead,” he added.

Dorsey will thus remain a member of the senior leadership of the company he helped found in 2006 until his term at the 2022 shareholders’ meeting expires.

In addition, Bret Taylor He was appointed the new Chairman of the Board of Directors, succeeding Patrick Pichette, who will remain on the Board and will continue to serve as Chairman of the Audit Committee.

“On behalf of the board of directors, I want to thank Jack for his visionary leadership and tireless dedication to Twitter since its founding,” said Bret Taylor.

Jack Dorsey’s leadership as CEO of Twitter had previously been questioned, particularly for combining it with the executive functions at the helm of Square, another listed company in which the entrepreneur occupies the address.

In fact, the signature Elliott Management had tried last year to replace Dorsey as Twitter’s CEO, as the founder of the fund, billionaire Paul Singer, believed that the entrepreneur should not run two listed companies at the same time, although the parties eventually reached an agreement.