Jack Dorsey is walking away from Twitter.
The former CEO shared a screenshot of your resignation email on Twitter after numerous media reports detailed his departure.
He wrote that he wants the company to work separately from its founders. While it is important to many that companies are led by their founders, Dorsey said this was “a severe limitation and a single point of failure.”
Former CTO Parag Agrawal is the new CEO of the company. He started with Twitter as an engineer.
Dorsey notes that Agrawal was appointed after a “rigorous process” by the Twitter board and said he was its first choice and was behind the decisions that helped the company succeed. “My trust in him as our CEO runs deep.”
Bret Taylor will serve as chairman of the board. The “ambition and potential” of the team made leaving now a good time.
Dorsey has worked at Twitter for the past 16 years and has held numerous positions, including CEO and CEO. He will continue to serve on the board through May.
“I want everyone to know that this was my decision and I acknowledge it. It was difficult for me, of course, ”he wrote to conclude. “There are not many companies that reach this level. And there aren’t many founders who choose their company over their own ego. I know we will prove that this was the correct move. “
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