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November 29, 2021Jack Dorsey leaves his position as
CEO of Twitter
: the news, anticipated by Cnbc sources, has been officially confirmed. In his place will be
Parag Agrawal
, Twitter announced in a note, noting that Dorsey will remain on the board of directors until his term expires in 2022. Jack Dorsey, in addition to Twitter, is also the CEO of
Square
, a digital payment company.
Twitter's stock on Wall Street, which jumped 11% in pre-market, was suspended pending an announcement that, after press leaks, was considered imminent.
Two years ago the co-founder - with
Noah Glass, Biz Stone and Evan Williams
- of the social media platform had reached a truce with the shareholder Elliott Management, who had tried to oust him from the board.
It is not his first exit from the scene: after founding the platform in 2006, he was CEO until 2008, when he was ousted from the role.
He returned to the helm of Twitter in 2015, following the resignation of Dick Costolo.
The designated CEO, the Indian Parag Agrawal (Randi), previously held the position of Cto of the company as head of the Technical Strategy, Machine Learning, Artificial Intelligence, Consumer, Revenue and Science teams.
Deep gratitude for @jack and our entire team, and so much excitement for the future.
Here's the note I sent to the company.
Thank you all for your trust and support đź’™ https://t.co/eNatG1dqH6 pic.twitter.com/liJmTbpYs1
- Parag Agrawal (@paraga) November 29, 2021