According to Cnbc sources, later confirmed by the company, Jack Dorsey is ready to leave the position of CEO of Twitter. The stock jumped 11 percent on the stock market
Jack Dorsey ready to step down as CEO of the company he founded in 2006, or Twitter. This was initially announced by the CNBC, citing internal sources. Then it comes confirmation from Jack Dorsey himself, obviously with a tweet: I don’t know if you heard, but I resign. And it looks like the board of directors has been preparing for the handover for a year. In fact, the name of Dorsey’s successor is already known: the current Chief Technology Officer will sit in the CEO’s chair Parag Agrawal. The next CEO will have to work hard for achieve the internal goals that you give Twitter. The company said earlier this year that it aims to have 315 million monetizable daily active users by the end of 2023 and to at least double its annual revenue that year. Immediately the stock exchanges reacted, with a jump in the stock of 11 per cent in the premarket. At the opening, it gained 6.25% to $ 50.01.
At the moment Jack Dorsey, in addition to Twitter, is also at the helm of Square, a digital payment company. The “double office” – and the resulting pressure – could be the reason behind the decision to resign. Already in 2020 one of the largest shareholders, Elliott Management, had tried to replace him. Then an agreement was reached between Dorsey and the founder of the investment firm, Paul Singer: The latter had wondered if it was correct for Dorsey to lead both companies, especially in light of the fact that the effort to create a new digital payment system was taking away time from managing Twitter.
In letter to employees written by Dorsey, try to explain the reasons who prompted him to say goodbye to his creature. One of these who knows he is leaving the company in good hands. The council carried out a rigorous process considering all options and unanimously elected Parag – he writes – It has been my choice for a long time given the depth of understanding of society and its needs. Parag was behind every critical decision that allowed the company to turn around. curious, analytical, creative, demanding and humble. Drive with heart and soul, and someone from whom I learn something every day. Parag Agrawal was hired at Twitter in 2011 and since 2018 Chief Technology Officer. He assumes the role of CEO from today. Dorsey will remain on the board until May to help him. Then he will leave the board: I think it’s important to give Parag the space he needs. Important final note: I want you to know that this was my decision. it was a tough decision obviously, I love this service and this company, and all of you. I am very sad, but also very happy. There aren’t many companies that reach this level. And there aren’t many founders who choose their company before their pride. I know we will prove that this was the right move. And the conclusion, with a hint of irony: Twitter this mail. My wish for Twitter to be the most transparent company in the world. Hello Mom!.
And it comes, always via tweet, Parag Agrawal’s answer all’ex capo Dorsey: I am grateful for the service you have built. The culture, soul and purpose you have given us all, and for leading this society through significant challenges. I am grateful for the trust you are placing in me and for your continued covenant. And then he adds: The world is watching us, even more than before. Many people will have different views and opinions on today’s news. because they care about Twitter and its future, and a signal that our work matters. Let’s show the world the potential of Twitter.
Jack Dorsey ha 45 anni. In 2006, together with Noah Glass, Biz Stone and Evan Williams he founded Twitter. He himself was the first CEO of the company that offered the innovative micro-blogging service. Soon Twitter becomes the reference social network for peer-to-peer information, as well as a tool to create a direct dialogue between great entrepreneurs, politicians or VIPs and their public. Dorsey remained at the helm of Twitter until 2008, only to return in 2015 following the resignation of Dick Costolo. Together with Jim McKelvey, In 2010 he founded a smaller business, for digital payments, called Square. Within a year he had already hired over a hundred people.
Jack Dorsey is also known for his philanthropy activities. In 2015, he donated a third of his shares to Twitter employees. But still during the pandemic he made available
one billion dollars for long-term projects targeting topics such as women’s health, education and universal income.
November 29, 2021 (change November 29, 2021 | 18:05)
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