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 returned as 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 change was considered “as a way for the company to take bigger risks. ” During his tenure as CEO, Dorsey faced criticism about his management and political beliefs. New chairman Bret Taylor thanked the co-founder for his “visionary leadership”. “Jack returned to Twitter and turned the company around at the most critical time. The progress since then has been nothing short of incredible,” he said. Dorsey has expressed his plans to focus on bitcoin.