Twitter chief executive Jack Dorsey has disclosed his intention in stepping down from the social media service. Parag Agrawal, Twitter’s chief technology officer (CTO), will take over the helm, the company said Monday.
Dorsey, who co-founded the company and has been a leader there for the last 18 years, said his departure would be effective immediately. He will remain a member of the board until his term expires in 2022. Salesforce President and COO Bret Taylor will become the chairman of the board, succeeding Patrick Pichette, a former Google executive, who will remain on the board as chair of the audit committee.
Agrawal, who’s served as CTO since 2017, has been with Twitter for more than a decade. He had been in charge of strategy involving artificial intelligence and machine learning and he led projects to make tweets in users’ timelines more relevant to them.
Dorsey who was nearly ousted last year when Twitter stakeholder Elliott Management had sought to replace him, said in an email he published on Twitter that Agrawal has been his choice to lead the company “for some time given how deeply he understands the company and its needs.”
Dorsey will remain CEO of payments company Square.