Twitter co-founder Jack Dorsey has stepped down again as CEO. He will be replaced by Parag Agrawal, who has served as CTO since 2018. Jack Dorsey will remain on the board of directors until around May 2022 for a takeover before leaving Twitter.
Jack Dorsey co-founded Twitter and took on the role of CEO in 2006, but this is his second resignation as he was ousted as CEO in 2008 after being forced to choose between becoming a fashion designer or Twitter CEO. At the time, the board cited early dismissal or attending yoga and fashion design classes as one of the reasons Jack Dorsey was ineligible.
According to Jack Dorsey, the resignation was completely his own decision and the reason is that the company is at a time when it needs to move away from the influence of its founders. He adds that CTO Farag Agrawal has the skills to succeed and is completely reliable.
Jack Dorsey also founded Square, a payment technology company, which overlaps with Twitter. This Twitter CEO resignation has nothing to do with Square and will remain as CEO.