Twitter Co-Founder Jack Dorsey Steps Down As CEO. See Why?

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Early last year, 2020, there was an attempt to oust Twitter CEO and co-founder Jack Dorsey, but he survived the ouster in March, the same year when the company’s key investors negotiated a deal to keep him in office.

The deal with the Twitter investors led to the creation of a new committee within the board of directors.

The committee was tasked with keeping tabs on the company’s leadership and ensuring the smooth running of the company.

Jack Dorsey surprised many Twitter users on Monday, November 29, 2021, when he announced that he would be stepping down as the company CEO.

Twitter Co-Founder Jack Dorsey.
{Twitter Co-Founder Jack Dorsey: Photo Courtesy}

The Big Question is, was this forced on him, or did he willingly decide to step down as CEO and pave the way for new leadership?

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Well, according to our research team, we know that when he survived the first attempt to be removed from office by the activist investor, he remained under pressure to step down.

He has been at the head of the company since 2015 after the then company CEO Dick Costolo resigned.

Interestingly, the Twitter CEO has also been the CEO of another Company, Payment Company Square.

 According to Elliott Management, Dorsey had spread himself so thin, trying so hard to manage both companies, which he did, but with so much pressure from both ends.

In his statement, he said, “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders.” 

Parag Agrawal, who is the company’s Chief Technical Officer, will replace him as CEO.

{Twitter Co-Founder Jack Dorsey and his replacer, the 37-year-old Parag Agrawal: Photo Courtesy}

Dorsey made some interesting remarks about his successor. He said, “My trust in Parag as Twitter’s CEO is deep… It’s his time to lead.”

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