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What Caused Jack Dorsey, The CEO Of Twitter To Stand Down? Keep Reading To Know!

Twitter Officially announced on Monday, that the chief technical officer of the social network, Parag Agrawal will succeed the former chief executive of Twitter and Square. According to Twitter, Mr. Dorsey held the rank of chief executive since 2006.

The reports suggest that while writing in a statement, Dorsey mentioned that it is the right time for him to leave and the company to carry on. It is the peak time to head this duty to a more trustworthy person and a better example of exceptional expertise, heart, and soul couldn’t exist, he said. He also mentioned that he isn’t sure if anyone has yet heard about but it but his resignation is official now. While concluding, he spoke briefly of how the company required his blood and sweat with constant dedication, to be where it is now.

Jack Dorsey further informed that he has agreed Bret Tylor work in the company on the post of board chair. He doesn’t only understands his task and performs them like a pro, but is perfect for the company in all aspects, Dorsey added. Dorsey believes this is all the company needs currently. His exceptional leadership roles couldn’t have impressed me more, the former CEO included.

Amalgamated back in 2011, Mr. Agarwal initiated to offer his services as the head of the technology in 2017. Dorsey will step down as soon as 2022- when the agreement will expire.

The former CEO to become; later also mentioned that the thought of leaving the tech giant gave him a mixed feeling of being sad and happy simultaneously.

Before leaving, Dorsey ensured that he leaves a positive impact: Tweeted on Sunday, 28th November, that he ‘loves’ Twitter. As result, the shares extended to 5%, which is $49.47.

Back in 2020, the hottest aura engulfed Twitter: Politics and the elections. This, while keeping the event of the Jan 6 riot at the US Capital in mind, led Twitter to restrict ex-president Donald Trump from the platform. Dorsey was in favor of the move and believed that the occurrence led the publics’ wellbeing to be at stake. The company was also affected incredibly and suffered. In July, Trump used his power to sue the companies like YouTube, Twitter, and Facebook for professed suppression.

Being a CEO of both majors has been a challenging journey for Dorsey; it gave the big rivals the chance to question his aptitude.

It was last year when the company decided to allocate Elliot Management Crop the duties of the company board. It already possessed 4pc of Twitter stock along additional Silver Lake.

The joining of Dorsey has bought Twitter a great fortune: shares have grown to 85% since he became the CEO back in October 2015. It didn’t end here- Square's stock expanded to 1,566% since 19thNovember of 2015.

Nobody had an idea that after around 16 years of being the backbone of the company, he would resign.

Photo: Twitter/ Getty

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