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Twitter leader Jack Dorsey resigns

Twitter CEO Jack Dorsey has announced that he will resign and hand over the leadership to Parag Agrawal, who has been the company’s Chief Technology Officer since 2017. Dorsey’s tenure spanned a period during which Twitter’s career was marked by significant ups and downs. Revenue growth has been stable over the past three full fiscal years, but has shown signs of slowing, with annual growth of 25 percent in 2018 falling to 7 percent by 2020. Dorsey, who has been criticized for being the CEO of both Twitter and Square (SQ) payment platform, put it this way:

“I decided to leave Twitter, because I think the company is ready to move on from the founders.My confidence in Parag as the CEO of Twitter is unshakable.The work he has done over the last 10 years has transformed our company.I am grateful for his abilities, his heart and his spirit.It is time to lead. “

The company, along with Facebook, has become at the epicenter of controversy in recent years, including misinformation and misinformation, hate speech and insulting user entries. Dorsey appeared several times before Congress to respond to the problems that arose and promised to make changes to the social network to address them.

Of course, Dorsey also had to contend that Donald Former President Trump has used the platform throughout his tenure as a de facto mouthpiece. Twitter eventually blocked Trump’s disinformation and other provocative tweets. He was banned from service after the attack on the Capitol on January 6.

Dorsey has been called upon to resign more than once in the past. Scott Galloway, a critic at Big Tech and a professor at New York University, said the company should fire Dorsey for serving as CEO of Twitter and Square as well. Elliott Management in 2020 also called on Twitter to fire Dorsey because of his dual CEO role. Dorsey also raised concerns among investors in 2019 that she wanted to move to Africa for several months

This was Dorsey’s second term as Twitter co-founder. His first cycle ended when he was replaced in 2008 and replaced by co-founder Evan Williams. However, Dorsey returned to the top of the company in 2015 and has been there ever since until his resignation. The businessman will continue to be a member of the company’s board of directors until his term expires in 2022.

Parag Agrawal, who took his seat, also thanked the board and Dorsey for the opportunity:

“I would like to thank the board for the trust I have placed in my leadership and Jack for his continued mentoring, support and partnership. I look forward to building on what we have achieved under Jack’s leadership and the opportunities ahead. By continually improving our execution, we will create tremendous value for our customers and shareholders as we reshape the future of public discourse. “

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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