- Push-out Score determined
- After about six and a half years in the position
- Praise and thanks for Dorsey
- Parag Agrawal taking over
- Dorsey kept it short and said 51 words
(exechange) — San Francisco, California, November 29, 2021 — Jack Dorsey, chief executive of Twitter, leaves. As announced by Twitter Inc. in a news release on Monday, November 29, 2021, Jack Dorsey leaves his post as chief executive officer at the social media giant, after about six and a half years in the role, effective immediately.
Jack Dorsey’s duties as CEO will be taken over by Parag Agrawal, most recently Chief Technology Officer at Twitter Inc.
“I believe the company is ready to move on from its founders”
Twitter did not give an explicit reason for Jack Dorsey’s departure from the CEO post. Dorsey said: “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders.”
Precise information regarding Jack Dorsey’s future plans was not immediately available.
Twitter said: “Twitter, Inc. (NYSE: TWTR) today announced that Jack Dorsey has decided to step down as Chief Executive Officer and that the Board of Directors has unanimously appointed Parag Agrawal as CEO and a member of the Board, effective immediately.”
Share price decline since January 2021
The announcement follows a decline in Twitter Inc.’s share price of 14% since January 2021.
In the position of CEO since 2015
Jack Dorsey became CEO of the Company in 2015.
Dorsey will remain a member of the Board until his term expires at the 2022 meeting of stockholders.
Jack Dorsey is one of the Company’s founders and has served as the Company’s Chief Executive Officer since September 2015 and as a member of the Company’s board of directors since May 2007.
Dorsey served as the Company’s interim Chief Executive Officer from July 2015 to September 2015 and as the Company’s President and Chief Executive Officer from May 2007 to October 2008.
Dorsey served as the Chairperson of the Company’s board of directors from October 2008 to September 2015.
Since February 2009, Dorsey has served as Co-Founder and Chief Executive Officer of Square, Inc., a provider of payment processing services (“Square”).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jack Dorsey’s move on a scale of 0 to 10.
exechange reached out to Twitter and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 49.2021 ($).