Twitter Founder And CEO Jack Dorsey Resigns Amid Mounting Pressure

Twitter founder & CEO Jack Dorsey is breaking up. Investors had continued to pressure because Dorsey hadn’t paid his full attention to the company because of a second company. The succession has already been clarified and will start immediately.

Twitter will soon have a new boss

“just setting up my twttr”: with these words, Jack Dorsey had done on March 21, 2006, for the first time what the world would later know as ” tweet “. A good 16 years later, the founder does not have to give up his Twitter account, but he does have to hand over the reins of the company that he founded himself. After CNBC and Reuters reported accordingly, Dorsey is making it official himself today: “I don’t know if anyone has noticed, but I quit on Twitter.”

The now ex-boss tries very hard to emphasize that he made the decision to leave the company on his own. He clearly contradicts the idea that it is important for companies to remain “founder-led”. “I believe that it is important for a company to stand on its own two feet, free from the influence and direction of the founders,” said Dorsey.

The resignation from the CEO position will be carried out immediately, in May Dorsey will also step down from the supervisory board and leave the company completely. The successor has also already been clarified: As of today, the previous chief technology officer Parag Agrawal can take a seat in the executive chair on Twitter. This was unanimously appointed by the supervisory board and had long been a confidante of the departing boss.

Double CEO

However, many observers see another clear reason for the resignation. In addition to the short message service, Dorsey had also founded the payment service Square, and after his return to the top management of Twitter in 2015 led the two companies at the same time. Since then, the criticism of this double CEO role has not stopped.