Main highlights:
- Twitter announced that CTO Parag Agrawal would replace Jack Dorsey and join the board of directors immediately, while Bret Taylor would assume the chairmanship.
- In a statement released by the company, Dorsey claimed that he is departing because he believes the company is ready to transition away from its founders.
- Parag Agrawal, the new CEO, began his career with the company in 2011 as an advertising engineer and eventually climbed to Chief Technology Officer in 2018.
- While Dorsey is well-known for his interest in blockchain technology, cryptocurrency, and decentralization, Agrawal is also interested in “web3” technology and played a critical part in Twitter’s Bluesky effort to develop an open and decentralized social media standard.
Twitter co-founder and CEO Jack Dorsey announced his departure, confirming rumors first published this morning by CNBC. The company revealed that CTO Parag Agrawal would succeed him and join the board of directors, starting immediately, while Bret Taylor will take over as board chairman. Dorsey was reinstated as CEO of the firm in 2015, despite being thrown out in 2008. He remains CEO of Square and tweeted last night, “I adore Twitter.”
In the firm’s official statement, Dorsey stated that he is leaving Twitter because he believes the company is ready to transition away from its founders. His confidence in Parag as Twitter’s CEO is unwavering. He believes that Parasg’s work over the last decade has had a transformative effect. He is indebted to him for his ability, heart, and soul. Dorsey stated that it was his time to lead.
Dorsey informed staff in a letter that he will serve out his time on the board of directors until May, at which point he will resign from that post as well. Dorsey stated his decision as follows:
“I believe it’s essential to give Parag the space he needs to lead. I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I’m unfortunate yet really happy. There aren’t many companies that get to this level. And there aren’t many founders that choose their company over their ego. I know we’ll prove this was the right move.”
Parag Agrawal will lead Twitter as the new CEO
Parag Agrawal, the new CEO, joined the company in 2011 as an advertising engineer and finally rose to the position of CTO in 2018. At the time, the firm stated that it was focusing on developing a consistent machine learning and artificial intelligence approach across its consumer and revenue product and infrastructure teams in its capacity as CTO. In an interview last year he detailed how Twitter utilizes a combination of agents and machine learning to identify potentially harmful tweets and prioritize them for review.
While Dorsey is well-known for his interest in blockchain technology, cryptocurrency, and decentralization, Agrawal is also interested in “web3” technology and played a vital role in the Twitter-backed Bluesky attempt to create an open and decentralized social media standard.
Agrawal writes in his email to staff ahead of an all-hands meeting that he joined the company ten years ago when it had less than 1,000 people. While it was a decade ago, he recalls those days as if they were yesterday. He has experienced both highs and lows., the difficulties and challenges, the victories and mistakes. However, both then and now, The has seen Twitter’s significant influence, its continuous growth, and the great chances that lie ahead of them.
