Twitter CEO Jack Dorsey resigns

In a message posted on his Twitter account, Jack Dorsey announced his resignation as CEO of this social network. According to the message, Dorsey will remain a member of the Board of Directors until his term expires at the 2022 shareholders’ meeting.

“I’m not sure if anyone has heard of this, but I resigned from Twitter” are the words with which Dorsey decided to communicate his resignation. Next, he mentioned three reasons for leaving the company.

The first reason is that Parag Agrawal will take over as CEO of Twitter. “Baraj was behind every critical decision that helped change Twitter,” Dorsey said. The second reason is that Brett Taylor, co-founder of Google Maps, will head the Twitter board. Finally, Jack Dorsey considered that the remaining Twitter team “has the potential to change the course of the company in a better direction.”

After Jack Dorsey resigned as CEO of Twitter, The company’s shares rose 15% on the New York Stock Exchange.

Before his resignation in March 2020 Jack Dorsey has been pressured to resign by Elliott Managementthat acquired 9% of Twitter’s shares. This dispute between the two companies was settled when Jesse Cohn, a partner at Elliott Management, was appointed to Twitter’s board of directors.

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