Jack Dorsey steps down as CEO of the microblogging platform!
The Twitter co-founder will be succeeded by Twitter’s current chief technology officer (CTO), Parag Agrawal.
“Twitter, Inc. today announced that Jack Dorsey has decided to step down as chief executive officer and that the Board of Directors has unanimously appointed Parag Agrawal as CEO and a member of the board, effective immediately,” the company said in a statement.
On Monday, Dorsey shared a statement in a tweet saying, “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders.”
Dorsey added that he was “really sad […] yet really happy” about leaving the company and it was his decision.
It was a day ago when Dorsey had sent a cryptic tweet reading only “I love Twitter”.
As being reported, Twitter shares rose five percent to $49.47 in morning trading after the announcement.
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