Jack Dorsey ends up as head of Twitter – SME.sk

SAN FRANCISCO. Jack Dorsey leaves Twitter at the forefront. He will be replaced as Chief Technology Officer by Parag Agrawal.

Dorsey, 45, was the executive director of Twitter and Fintech Square. However, even after leaving the company, he will remain a member of Twitter’s board of directors until his term ends at a shareholders’ meeting in 2022.

“I decided to leave Twitter because I think the company is ready to continue without its founders,” Dorsey said.

Agrawal will have to meet Twitter’s aggressive internal goals. Earlier this year, the company said it wanted 315 million monetizable daily active users by the end of 2023, while at least doubling sales by 2023.

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Dorsey tried to replace Elliott Management, a Twitter shareholder, last year. Fund founder Paul Singer called on Dorsey to resign. As a reason, he said that Dorsey cannot head Twitter and Square.

Dorsey is a co-founder of Twitter, which was founded in 2006 and was its CEO until 2008, until he was forced to leave. He then took over the company again in 2015, when former boss Dick Costolo resigned. Actions Twitter has risen 85% since Dorsey took office on October 5, 2015. However, Square shares have jumped 1566% since entering the stock market on November 19, 2015.