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Subject: Twitter founder Jack Dorsey to resign
Written By: Voiceofthe70s on 11/29/21 at 10:32 am
Jack Dorsey, the spaced out founder of Twitter, is stepping down as CEO.
www.nytimes.com/2021/11/29/technology/jack-dorsey-twitter.html
Excerpts:
SAN FRANCISCO — Jack Dorsey is stepping down as chief executive of Twitter, the social media site he co-founded in 2006 and guided through the tumultuous years of the Trump administration.
Twitter announced Mr. Dorsey’s departure on Monday. He is being replaced by Parag Agrawal, the company’s current chief technology officer. Mr. Dorsey’s plans were first reported by CNBC. A Twitter spokeswoman did not respond to a request for comment.
Mr. Dorsey’s exit will mark a significant shift at the company, which has navigated years of pressure from investors and increasing criticism from Washington, particularly Republican lawmakers who complain Twitter has contributed to a stifling of conservative voices in social media.
Mr. Dorsey, who is also the chief executive of the payments company Square, was fired from the top job at Twitter in 2008 but returned in 2015.
His leadership has been questioned by employees and investors who believed that he was unfocused and spent too much of his time on Square and other passion projects. His departure comes a year and a half after Mr. Dorsey survived an attempted ouster from the activist investor Elliott Management.
Chief among Elliott’s concerns was that Mr. Dorsey’s attention was divided between the two companies he led. The firm believed that Twitter had fallen behind social media rivals in increasing its stock price and adding innovative new products.