:quality(80)/cdn-kiosk-api.telegraaf.nl/7003ba56-5132-11ec-a995-0255c322e81b.jpg?fit=%2C&ssl=1 "Jack Dorsey leaves as CEO of Twitter | Financial")
According to Reuters news agency, Dorsey’s departure had been a year in the making. Together with the rest of the board, the CEO himself has decided who will be his successor.
Rare position
Dorsey, 45, is one of the founders of Twitter and was CEO from 2006 to 2008. In 2015 he became CEO again. In the meantime, Dorsey founded payment company Square, of which he was also chief executive. This put Dorsey in the rare position of being in charge of two publicly traded companies.
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Twitter-ceo Jack Dorsey
Ⓒ ANP/HH
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His successor Agrawal will take over as CEO with immediate effect. He has been the technical boss of Twitter since 2017.
Investors on Wall Street reacted positively to the news that Dorsey was leaving. The share was more than 8% in the plus after a few minutes. The price then fell back to a plus of 3.4%, after which trading in the stock was halted pending the press release from Twitter. After the official confirmation of the news, trading in the Twitter share has resumed and the price is more than 5% higher.
Dorsey also tweeted about his retirement from Twitter. He will remain on board as a board member with the company until his term ends next spring.
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