The Chief Executive Officer of microblogging platform Twitter, Jack Dorsey, has resigned.
He announced his resignation on Monday, after 16 years of co-founding the social media company.
He also announced Parag Agrawal as his successor.
“After almost 16 years of having a role at our company, from co-founder to CEO to chair to Exec chair to interim-CEO to CEO…I decided it’s finally time for me to leave. Why? There is a lot of talk about the importance of a company being “founder-led.” Ultimately I believe that’s severely limiting and a single point of failure. I have worked hard to ensure that this company can break away from its founding and founders,” Dorsey said in a mail.
“I resigned from Twitter,” he wrote.