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It looks like Twitter CEO Jack Dorsey will step down when the news is officially shared on Monday.
according to Hollywood reportLater, Twitter’s CTO Parag Agrawal will replace Jack, and current board member Bret Taylor will become chairman. However, Jack will remain on the company’s board of directors through his current team until 2022. After that, he is expected to leave the company completely,
Jack said of his departure from the company: “I decided to leave Twitter because I believe the company is ready to leave its founder. As the CEO of Twitter, I have a deep trust in Parag. His work in the past 10 years has Transformational. I am deeply grateful for his skills, heart and soul. Now is the time for him to lead.”
Jack shared the news with his employees in an email with the subject “Fly” and said: “Considering his understanding of the company and its needs, he has always been my choice. Parag has always supported and helped this. Every key decision made by the company to turn the situation around.”
THR pointed out that this is the second time Jack has resigned as CEO. He first stepped down as chairman in 2008 and then resumed his role as CEO in 2015.
As we all know, Jack is also the CEO of Square Inc., a financial services company. Before According to reports, as early as March, Square announced that it had purchased a majority stake in Jay-Z’s streaming service Tidal with a combination of $297 million in cash and stock. With this transaction, Jay-Z became a member of Square’s board of directors.
Check out Jack’s full resignation email below:
Not sure anyone has heard of it, but,
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
— Jack⚡️ (@jack) November 29, 2021
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TSR Staff: Jade Ashley @Jade_Ashley94
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