![]() ![]() “Agrawal has his work cut out for him in terms of keeping Twitter relevant and getting the everyday user on board, and monetizing the platform in general,” she said.ĭorsey, who co-founded Twitter in 2006, steered the company through a high-profile hack and the controversial banning of Donald Trump, who tested the boundaries of the platform’s enforcement against hate speech and misinformation. The company currently faces a host of challenges, including slow growth in its user base as competitors like TikTok and Instagram lure away younger demographics, as well as continuing struggles with misinformation and hate speech.Īgrawal is expected largely to pick up where Dorsey left off, continuing to fight for users being lured away by competitors like TikTok and Instagram, said Jill Wilson, the chief marketing officer for Esquire Digital. “But our critical challenge is how we work to execute against it and deliver results.” “We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right,” Agrawal said in an email to employees. "I know we'll prove this was the right move.That means we can expect more of the same under him in terms of policy and company direction, experts say – including plans to continue Twitter’s recent strategy to double its annual revenue by 2023 and focus on its long-term ambition to rebuild how social media companies operate. And there aren't many founders that choose their company over their own ego," he wrote. "There aren't many companies that get to this level. "But our critical challenge is how we work to execute against it and deliver results - that's how we'll make Twitter the best it can be for our customers, shareholders, and for each of you."ĭorsey shared an email to staff members announcing his departure on Twitter, describing it as "a tough one" but as his own decision. "I believe that strategy to be bold and right," Agrawal wrote in a note to Twitter employees on Monday. Only recently has it introduced new features, such as Twitter Blue, a subscription service for frequent users, and Twitter Spaces for audio chats, as part of an ambitious effort to more than double annual revenue and attract new users. ![]() The microblogging platform has stayed largely the same for years. ![]() While Twitter is popular among celebrities, politicians and the media, it has been slow to innovate compared with top competitors such as Facebook, Snapchat and TikTok. Technology Jack Dorsey, Twitter's Eccentric CEO, Could Be Looking For A Job Soon The hedge fund backed off its demand, however, after striking a deal with Twitter management. It argued that Twitter should have a CEO solely focused on running the company. The hedge fund Elliot Management, a major shareholder, sought to replace Dorsey last year. He returned to the top job in 2015.ĭorsey is also CEO of Square, the financial payments company he founded in 2009, and has been criticized by some investors for leading two public companies at once. He was Twitter's founding CEO but left the company once before after a falling out with a fellow co-founder. It's his time to lead."ĭorsey will remain on the company's board of directors until May of next year. I'm deeply grateful for his skill, heart, and soul. His work over the past 10 years has been transformational. "My trust in Parag as Twitter's CEO is deep. "I've decided to leave Twitter because I believe the company is ready to move on from its founders," Dorsey said in a statement. Twitter stock rose on the news, which was first reported by CNBC. He will be replaced by Twitter's chief technology officer, Parag Agrawal, a 10-year veteran of the company. ![]() Jack Dorsey is stepping down as CEO of Twitter, the social media company he co-founded in 2006. Here he's shown at a bitcoin convention in June. Jack Dorsey is stepping down as the CEO of Twitter, which he co-founded. ![]()
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