Jack Dorsey has resigned as chief executive of Twitter on November 29, 2021. The 45-year-old, who co-founded Twitter in 2006, will remain the CEO of Square, another company he formed that allows credit and debit payments through a mobile device. In a statement, he said, “It’s finally time for me to leave” and emphasized that the company was “ready to move on.” His first stint as Twitter’s boss ended in 2008, but he was appointed CEO again in 2015 when Dick Costolo left. He will be succeeded by the current chief technical officer, Parag Agrawal. Agrawal has been the firm’s head of technology since 2017.

Victoria Scholar, an investment analyst at Interactive Investor, said the development had not come as a surprise to Twitter’s board members “who have reportedly been preparing to say goodbye to Dorsey since last year”. During his tenure as a CEO, Dorsey appeared on television to address accusations of Twitter having a political bias and contributing to the spread of false information. Moreover, many investors were concerned that the platform was not getting the focus it needed while he was also running Square. In 2020, calls came for the co-founder to step down from his position, but he remained after an agreement with an investment firm. Board member Bret Taylor thanked the former CEO for his “visionary leadership and unrelenting dedication to Twitter since its founding.” “Jack has given the world something invaluable, and we will continue to carry it forward,” he said. Dorsey has expressed his plans to focus on bitcoin.