Jack Dorsey

Reports: Twitter founder Jack Dorsey expected to step down as CEO

  • Twitter
  • Facebook
  • Pinterest
  • Linkedin

Jack Dorsey is expected to step down as chief executive of twitter, according to media reports.

On Monday  29th November, CNBC first reported the news, citing anonymous sources and later Reuters also reported the same news citing source familiar with the situation.

@Jack founded Twitter in 2006 with Evan Williams, Biz Stone, and Noah Glass and has been serving as chief executive and had been under pressure to step down last year.

The report of Jack’s departure sparked twitter’s share price to jump slightly to the point trading had to be stopped temporarily

On Sunday, Jack Dorsey had tweeted, “I love Twitter.”

No official word from Jack or Twitter executives regarding the development.

Update 29/11/2021: 

“It’s finally time for me to leave” he wrote in a statement, saying the company was “ready to move on.”

Mr Dorsey said he had “deep” trust in his replacement. “I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” he said.

Mr Dorsey tweeted:

“Not sure anyone has heard but I resigned from Twitter”.

“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,” he wrote in an attached email he sent to staff. “Why not stay or become chair? I believe it’s really important to give Parag the space he needs to lead.”

Jack, said he will leave the board once his term is over.

Leave a Reply

Your email address will not be published.
Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: