The news of the hour is the resignation of Jack Dorsey from his CEO position on Twitter. Former CTO Parag Agarwal will act as the new CEO starting 30th November 2021. Dorsey made his decision public on Twitter, the micro-blogging platform which he co-founded in 2006. In his two terms as the CEO of the platform, he has taken Twitter from a selective audience to a global platform for news, updates, and much more.
In the letter that Dorsey Tweeted, he said he will still serve as a member of the board until around May. Until then, the new CEO Parag Agarwal and the new board chair Bret Taylor will have taken reign of the company. Dorsey also clarified why he would not remain a board member post-May. He said that it is very important for the new CEO Parag to have his space.
Dorsey served in his position for 16 long years. He has also been a long-term crypto supporter and does was among the first influential figures to adopt Bitcoin. Twitter itself has become a very important space for discussions about crypto. In fact, there are speculations that Dorsey will next move to cryptocurrency projects in his other company, Square.
Under the leadership of new CEO Parag Agarwal, there will be a drive to make Twitter more crypto-friendly. The next few months will be crucial for twitter as it will determine how the transition takes place. The world is now looking up to Parag and his leadership to take Twitter to the next level