CTO Parag Agrawal will be taking over as CEO of the company.
Twitter CEO Jack Dorsey announced his resignation on Monday morning, telling employees in a letter that CTO Parag Agrawal would be taking over the position. Dorsey said he had three reasons why he thought this was the ideal time for him to resign, citing his confidence in Agrawal, new board chair Bret Taylor and the company’s staff. «There’s a lot of talk about the importance of a company being ‘founder-led.’ Ultimately I believe that’s severely limiting and a single point of failure. I’ve worked hard to ensure this company can break away from its founding and founders,» he wrote. «Why not stay or become chair? I believe it’s really important to give Parag the space he needs to lead. And back to my previous point, I believe it’s critical a company can stand on its own, free of its founder’s influence or direction.» He added that there «aren’t many companies that get to this level and there aren’t many founders that choose their company over their own ego.
