The head of Twitter, Jack Dorsey, is stepping down from his position.

He communicated this himself via the short message service.

Previously, a corresponding report by the American business broadcaster CNBC made the rounds and ensured that the company's share price jumped by up to 10 percent.

Later, however, he lost part of the profits again.

In addition to Twitter, the 45-year-old Dorsey also runs the payment service provider Square, which was founded in 2010 and whose share price also only rose before falling again.

After 16 years in various positions at the top of the company, it is now time for him to retire, said Dorsey. His successor will be the previous Chief Technology Officer, Parag Agrawal, on which the responsible committee has already agreed. Bret Taylor will be the new chairman. In the resignation letter written to the employees, Dorsey describes his decision as a consequence of these two personal details.

In connection with his resignation, however, the news that the investment firm Elliott Management, led by Paul Singer, had recently criticized Dorsey's dual role and had tried to force him out of office last year.

At the time, Dorsey found support from Tesla founder Elon Musk.

An understanding was reached between Dorsey and Singer, the details of which were not made public.

Dorsey was the first boss of Twitter, but left his post in 2008 to serve as chairman of the company.

At the time, the investors apparently wanted to part with him because his leadership role was not exercised with full strength and often left work early.

He returned to the helm of the company seven years later.

The Nasdaq temporarily suspended trading in Twitter shares.

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