WASHINGTON ( AFP) Jack Dorsey, the co-founder and CEO of Twitter, announced his departure on Monday, after guiding the social media platform through the turbulence of Donald Trump’s administration and surviving an activist investor’s attempt to derail the firm in 2020.
During his tenure, Dorsey, who is also the CEO of Square, was challenged with delicate freedom of expression issues, problems to make the platform viable, and allegations that he had stretched himself too thin.
Dorsey personified Twitter for years with his iconic appearance of a shaved head, long beard, and unique style.
“I want you to know that this was my decision, and I take full responsibility for it. Of doubt, it was a difficult task for me “He announced his resignation as CEO in an email to Twitter employees, effective immediately.
“There aren’t many businesses that achieve this degree of success. There aren’t many entrepreneurs that prioritise their firm over their personal ego “Added he.
Twitter’s chief technical officer, Parag Agrawal, has taken over as CEO, with Dorsey stating that he will remain on the board of directors until approximately May to assist with the transition.
“And then… I’m going to quit the board,” Dorsey wrote. “Why don’t you remain or take over as chair? Allowing Parag the room he requires to lead is critical, in my opinion.”
After some turbulence, Nasdaq momentarily halted trading of Twitter on Monday, claiming “news pending,” and the price was down over 2.5 percent for the day.