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CNBC reported this morning that Jack Dorsey, the co-founder and CEO of Twitter, was leaving. The company confirmed that Parag Agrawal will be the new CTO, and that the new chairman is Bret Taylor.
The company's CEO was forced out in 2008 but he returned to lead the company in 2015. He is the CEO of Square, and last night he said he loved the social networking site.
Related.
To the CEO of the company, a timeline of Jack Dorsey's rise.
He says that he is leaving because he believes the company is ready to move on from its founders. My trust in Parag is deep. Over the past 10 years, his work has changed. I am grateful for his skills, heart, and soul. It is his time to lead. In a letter to employees, he says he will serve out his term on the board until May-ish, when he will also leave the position.
Parag was the new CEO when he joined the company in 2011. While Dorsey is well known for his interests in Cryptocurrencies, he has been leading the company's Bluesky effort to create an "open and Decentralized Standard for Social Media."
In his note to employees, he said that he joined the company 10 years ago when there were less than 1,000 employees. The days of a decade ago feel like yesterday to me. I have seen the ups and downs, the challenges and obstacles, the wins and the mistakes, and I have walked in your shoes. Above all else, I see the incredible impact of social media, our continued progress, and the exciting opportunities ahead of us.
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