Status: 11/29/2021 4:53 PM.
Jack Dorsey, the head of short messaging service Twitter, wants to resign. This allows the entrepreneur to focus on the position of his other boss.
Jack Dorsey, the owner and co-founder of short messaging service Twitter, is leaving a management position at the company. This was announced by Twitter and the report was confirmed by US broadcaster CNBC and Reuters news agency.
The current Chief Technology Officer Parag Agarwal will be his successor. It was previously said that Dorsey and the supervisory board had already made succession arrangements and that the group had been preparing for Dorsey’s return since last year.
Criticism because of two top positions
Dorsey founded Twitter in 2006 with a number of partners. Then three years later he founded the payment service Square. Today he is the boss of both the companies. In the past, Dorsey once left the Twitter lead before returning to the helm of the company in 2015.
Recently, the entrepreneur faced criticism from hedge fund billionaire Paul Singer, who questioned whether Dorsey should run both companies. Twitter share rose nearly ten percent on the report before being temporarily suspended from trading.
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