Twitter, Inc. today announced that Jack Dorsey had decided to step down as Chief Executive Officer, & that the Board of Directors had unanimously appointed Chief Technology Officer Parag Agrawal as CEO & also as a member of the Board, effective immediately.
In a press release issued by Twitter, the company said Dorsey would remain a member of the Board until his term expired at the 2022 meeting of stockholders. Bret Taylor was named the new Chairman of the Board, succeeding Patrick Pichette who will remain on the Board & continue to serve as chair of the Audit Committee. Agrawal has been with Twitter for more than a decade & has served as 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 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” said Dorsey in the press release.
