There’s been a big shakeup over at the Twitter headquarters.
Twitter’s CEO, Jack Dorsey, has decided to give himself the boot from the company ‘effective immediately.’
The news of Dorsey stepping down as CEO was announced on Monday, November 29.
In a statement released to the company, Dorsey wrote, “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders.”
He did not go into further detail as to why he was resigning.
Jack Dorsey Announces Exit From Twitter!
Twitter’s Chief Technology Officer (CTO), Parag Agrawal, will take over Dorsey’s duties immediately.
Dorsey was the CEO of the social media site and Square, his digital payments company.
In a statement from the company and reported by CNBC, Dorsey will remain a member of the Board until his term expires at the 2022 meeting of stockholders.
Dorsey co-founded the social media giant in 2006, served as CEO until 2008 before being pushed out of the role. He returned to Twitter as boss in 2015 after former CEO Dick Costolo stepped down.
Dorsey’s had a crazy journey since co-founding Twitter
Last year, Twitter stakeholder, Elliott Management, attempted to replace Dorsey.
Clearly, the attempts to replace him have been plentiful.
In true Twitter fashion, Dorsey’s name began trending on the “Blue Bird” after news of his resignation hit mainstream media.
Jack Dorsey’s name begins trending
One person tweeted, “Jack Dorsey to step down from Twitter CEO’n to sniff his own farts in a pile of money.”
Another person, who is NOT a fan of Dorsey, tweeted, “I hope the door in face DOES hit you on the a** on the way out Jack Dorsey. You banned a sitting President off Twitter because you’re a coward. F**k Jack.”
“1 year ago- “Republican mega-donor buys stake in Twitter and seeks to oust Jack Dorsey.” Today – Jack Dorsey out. I left FB over a year ago due to the amount of disinfo that was tolerated. Will probably be leaving Twitter also,” another unsatisfied user of the platform wrote.