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Parag Agrawal, Twitter's CTO, has taken over as CEO from Jack Dorsey.

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Twitter co-founder and CEO Jack Dorsey has confirmed his resignation, confirming speculations originally published by CNBC this morning. CTO Parag Agrawal will succeed him and assume a seat on the board of directors, effective immediately, according to the corporation, while Bret Taylor will take over as the board's new chairman.

Despite being driven out of the position in 2008, Dorsey returned to run the firm as CEO in 2015. He is still the CEO of Square, and he tweeted yesterday night, "I adore Twitter."

"I've chosen to leave Twitter because I feel the company is ready to move on from its founders," Dorsey writes in the company's official statement. I have a lot of faith in Parag as Twitter's CEO. His work has had a profound impact during the last ten years. I owe him a debt of gratitude for his talent, heart, and soul. It is now his turn to lead."

Dorsey told staff in a letter that he will finish his tenure on the board of directors until "May-ish," when he will also quit that role, and that he will explain his decision as follows:

Why not stay or become chair? I believe it’s really important to give Parag the space he needs to lead. And back to my previous point, I believe it’s critical a company can stand on its own, free of its founder’s influence or direction.

I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company...and all of you so much. I’m really sad...yet really happy. There aren’t many companies that get to this level. And there aren’t many founders that choose their company over their own ego. I know we’ll prove this was the right move.


Parag Agrawal, the company's new CEO, started as an ad developer in 2011 and rose through the ranks to become CTO in 2018. "In his position as CTO, he's focused on building a coherent machine learning and AI strategy across our consumer and revenue product and infrastructure teams," the business noted at the time. In a LinkedIn interview published last year, Twitter CEO Nicholas Thompson revealed how the company utilizes a number of agents as well as machine learning to "proactively detect possibly harmful tweets" that it prioritizes for review.


While Dorsey is recognized for his interest in blockchain technology, cryptocurrencies, and decentralization, Agrawal is also interested in "web3," and he has been a key role in the Twitter-funded Bluesky project to build an "open and decentralized standard for social media."


"I joined this firm 10 years ago when there were fewer than 1,000 workers," Agrawal writes in a memo to colleagues ahead of an all-hands meeting tomorrow. Those days seem like yesterday to me, despite the fact that they were a decade ago. I've been in your shoes, and I've experienced the highs and lows, the hurdles and roadblocks, the triumphs and failures. But, above all, I see Twitter's enormous effect, our continuous development, and the amazing prospects that lie ahead of us."



 

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