Jack Quits Twitter, Parag Takes Over

Jack Dorsey has resigned from Twitter. He was the CEO and Co-Founder. He co-founded Twitter in 2006, has been serving as chief executive of both Twitter and payment firm Square.

“It’s finally time for me to leave,” he wrote in a statement, saying the company was “ready to move on,” and that he was confident that his replacement will even be better than him.

Here is his full statement:

“My one wish is for Twitter to be the most transparent company in the world,” he said in an emotional statement. “I love Twitter,” was his last tweet. The markets seem to have warmed up to his exit with Twitter’s share price soaring.

The name Jack has been synonymous with Twitter. The man, who has a strong interest in bitcoin, has been hailed as being a champion of freedom of speech by using his platform to push the agenda. Twitter was helpful during the SAS brutality in Nigeria.

The man’s most daring move was to ban former President of the United States of America Donald Trump from the platform, following the riots at the Capitol building. It provoked strong criticism from Mr. Trump’s supporters. Trump is still bitter to date.

The new CEO is now the relatively-known Parag Agrawal.

Agrawal has been with the company for 10 years, most recently as a chief technology officer, and has emerged from behind the scenes to take over one of Silicon Valley’s highest-profile and politically volatile jobs.

A 37-year-old immigrant from India, Agrawal comes from outside the ranks of celebrity CEOs, which include the man he’s replacing as well as Facebook’s Mark Zuckerberg and Tesla’s Elon Musk.

But his lack of name recognition, coupled with a solid technical background, appears to be what some of Twitter’s biggest backers were looking for in the company’s next chapter.

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