Twitter co-founder Jack Dorsey has stepped down from his role as CEO. The company’s former CTO, Parag Agrawal, is taking over the position.<\/b>
\nThe latest tech news Your sardonic source for consumer tech stories Human-centric AI news and analysis Driving the future of sustainable mobility No-nonsense stories about startup growth Inside money, markets, and Big Tech The hottest new jobs in tech Help build the bank of the future Coding for Public Service Small country, big ideas Jack Dorsey is no longer the CEO of Twitter. Starting today, that title goes to Parag Agrawal, formerly the company\u2019s Chief Technology Officer. Dorsey explained the reasoning for his departure in an email sent to employees and later shared on Twitter: Agrawal provided his own response: Meanwhile Bret Taylor, President and COO of Salesforce, is becoming chair of the board. He replaces Patrick Pichette, who will remain as a member of the board. In short, Dorsey, who is also one of Twitter\u2019s co-founders, explains that he believes \u201cit\u2019s critical a company can stand on its own, free of its founder\u2019s influence or direction.\u201d Unlike many other instances of CEOs stepping down from their positions, Dorsey isn\u2019t planning on staying on the company\u2019s board either, saying he wants to give Parag the space he needs to lead. He\u2019ll remain on the board to help the transition until the end of his term in \u2018May-ish,\u2019 after which he\u2019ll\u2026 do something else, presumably. He is still CEO of payments company Square, after all. In fact, Dorsey has often been criticized for splitting his time between the two companies. In 2020, activist investor Elliot Management tried to oust Dorsey. Paul Singer, Elliot Mangement\u2019s CEO, had voiced concerns over whether Dorsey\u2019s split attention was inhibiting his leadership at Twitter. Fun fact: this isn\u2019t Dorsey\u2019s first time stepping down as CEO either; he was fired by the board in 2008. That time, however, Dorsey did remain on the board, and Twitter went through a series of leadership changes until Dorsey\u2019s return in 2015. This time, it seems he is leaving the company for good.<\/p>\n