Twitter founder Jack Dorsey leaves the company’s board of directors – 11/29/2021

American Jack Dorsey, 45, one of the founders of Twitter, announced today (29) that he decided to leave the position of CEO (chairman) of the social network, a position he has held since 2015. The news, which began circulating in the American press this morning, Monday morning, was confirmed by the director The same executive on his Twitter page.

Parag Agrawal, the current Chief Technology Officer (CTO) of the company, is taking over the position from now on.

“There is a lot of talk about the importance of a company being ‘founder-led.’ In the end I think that’s a very limiting and one point of failure. I’ve worked hard to ensure this company can distance itself from its founders,” Dorsey said in an email he sent to his team and shared. himself on Twitter.

In addition to promoting Agrawal to the position of CEO, Dorsey announced the addition of Brett Taylor, President and Chief Operating Officer of Salesforce (a major investor on Twitter) to the social network’s board of directors. Dorsey will also step down as chairman in May 2022 to “give Barrage the space he needs to lead.”

other reasons

According to CNBC, Dorsey’s departure is due to the fact that he holds the position of CEO of two companies – in this case Twitter and Square (a payment methods company).

US Republican billionaire Paul Singer of investment fund Elliott Management, who bought shares in Twitter last year, will be one of the mainstays in Dorsey’s removal. For him, still according to CNBC, the current leader of the social network should only be the CEO of one company.

Singer bought Twitter shares in 2020, at which time he had plans to fire Dorsey as Twitter’s CEO, realizing he couldn’t give her the attention needed in two leadership roles.

In addition, according to the Guardian newspaper, the desire to live and work in African countries for one year resists the current head of the social network – Twitter is headquartered in San Francisco, California (USA).

Futuro Do Twitter

Agrawal, the network’s next CEO, aims to double revenue by 2023 – the company plans to monetize 315 million daily active users within two years.

Meanwhile, the company has implemented new features, such as creating voice chat rooms and the ability to give money to some content creators.

Another challenge relates to dealing with the rhetoric of politicians. Dorsey was responsible for setting the rules that even the former US President made Donald Trump They are expelled from the social network. In Brazil, we had similar cases, with Tweets about the pandemic, posted by President Jair Bolsonaro, bear a warning.

Rumors of Dorsey leaving to lead Twitter alone sent the company’s shares up 11% on the Nasdaq.

Twitter log

Twitter was founded in 2006, and Dorsey was the network’s first CEO. He left his position in 2008, when he was replaced by Evan Williams, another co-founder of Twitter.

Meanwhile, in 2009, Jack Dorsey founded Square, an American payment startup. In 2015, he returned to Twitter as CEO and also accumulated the leadership role at Square.