Confirming rumors first reported this morning by CNBC, Twitter co-founder and CEO Jack Dorsey has announced his departure. The company confirmed that CTO Parag Agrawal will succeed him, and says that Dorsey will remain on its board of directors. Bret Taylor is taking over as the new chairman of the board.
Dorsey returned to lead the company as CEO in 2015 despite being forced out of the post in 2008. He continues to serve as the CEO of Square, and last night tweeted “I love Twitter.”
In a statement, he says “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep. His work over the past 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead.”
New CEO Parag Agrawal joined the company in 2011 as an ads engineer, eventually taking the title of CTO in 2018.