Jack Dorsey is no longer CEO of Twitter

Jack Dorsey steps down as CEO of Twitter. Parag Agrawal, former CTO, takes over.

Twitter CEO Jack Dorsey has left the company. He is now being replaced by Technical Director Parag Agrawal. This was reported by the American television channel CNBC. “I have decided to leave Twitter because I am convinced that the company is ready to continue without its founders,” Jack Dorsey said in a statement.

Jack Dorsey steps down as CEO of Twitter

And the man continued, “I have full confidence in Parag [Agrawal]. His work over the past 10 years has brought about profound changes. I am grateful to him for his talent, his heart and his mind. It’s time for him to lead.”Jack Dorsey is expected to remain on the Twitter board for the next six months or so to prepare for the transition before severing ties with the company entirely.

Parag Agrawal, former CTO, takes over

“I want you all to know that this is my decision and that I am entitled to it,” Jack Dorsey explained in an email (which he shared via his Twitter account). “Of course it was difficult for me. I love this service and company, I adore you all so much. I am very sad, but I am very happy. Not many companies reach this level. And there aren’t many founders who choose the business over their own ego. I know the future will prove it was the right decision.”

“I want to thank the Board of Directors for their trust in my leadership and Jack for his continued support and daily help,” said Paraga Agrawal. “I look forward to building on everything we have accomplished under Jack and feel incredibly motivated to take advantage of all the opportunities that will come in the future. As we continue to improve, we will provide our customers and shareholders with something phenomenal that will define the future of public comment.”