Jack Dorsey, Twitter’s co-founder and chief executive officer, has announced he is leaving the company. The social media platform’s chief technology officer (CTO), Parag Agrawal, will succeed him.
Agrawal, who joined Twitter in 2011 and has been CTO since 2017, said he was “really sad […] yet really happy” about leaving the company and that the decision had been his. Dorsey will remain on the board until his term expires in 2022.
He made an announcement via tweet:
not sure anyone has heard but,— jack⚡️ (@jack) November 29, 2021
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
I love twitter— jack⚡️ (@jack) November 28, 2021
After the announcement, social media site shares rose five percent to $49.47.
The social media site was caught up in the heated political atmosphere leading up to the 2020 election, particularly when it banned former president Donald Trump following his incitement of the Jan 6 riot at the US Capitol.