'I resigned from Twitter': Jack Dorsey quits as company's CEO
Parag Agrawal replaces Dorsey as Twitter CEO
Jack Dorsey on Monday confirmed he stepped down as Twitter’s chief executive officer, effective immediately.
"Not sure anyone has heard but, I resigned from Twitter," said Dorsey on Twitter, posting an email screenshot addressed to the team in the company.
The Board of Directors unanimously appointed Parag Agrawal as CEO and a member of the Board, said the company in a statement. Dorsey will remain a member of the Board until his term expires at the 2022 meeting of stockholders.
Agrawal was with Twitter for more than a decade and had served as chief technology officer 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 same statement.
Dorsey cofounded Twitter in 2006. He also launched the online payment platform Square in 2010.