Parag Agrawal Replaces Jack Dorsey as Twitter CEO

jpnn.com, AMERIKA - Twitter announced that Jack Dorsey is stepping down from the CEO role.

The new CEO seat is filled by Parag Agrawal, who previously served as Chief Technology Officer (CTO).

Dorsey, who co-founded Twitter in 2006, stepped down after overseeing the launch of a new way to create content via newsletters or audio conversations while simultaneously serving as CEO of Square Inc.

Twitter said the CEO change would take effect immediately, and Dorsey would remain on the board until his term ends at the 2022 annual shareholders' meeting.

Dorsey said he chose to step down because of Agrawal's leadership strengths, and the appointment of Salesforce Chief Operating Officer Bret Taylor as the new chairman of the board, as well as his belief in the "ambition and potential" of Twitter employees.

"I'm really sad…yet really happy," he said. "There aren't many companies that get to this level."

Dorsey added that his move to step down was his own decision.

Twitter has struggled to end years of criticism that it was slow to introduce new features to its 211 million daily users and lost out to social media rivals like Instagram and TikTok.