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Read Twitter co-founder Jack Dorsey’s Resignation

Twitter co-founder Jack Dorsey has announced his retirement as CEO, giving way to Parag Agrawal as the new head. His departure is a surprise to many, as Twitter is slowly moving to the next stage after a series of acquisitions to update the platform. The company has experimented with audio chat rooms, chip jars, and even paid models called Twitter Blue.

Meanwhile, Patrick Pichette will replace Bret Taylor as the new chairman of the board. Dorsey has not yet clarified the next project, but will continue to be a member of the board until his term expires at the 2022 shareholders’ meeting. The former CEO said: I have a lot of confidence in Parag as Twitter CEO. His work over the last decade has revolutionized. I am deeply grateful for his skill, heart and soul. It’s time to lead. “

Here is his full email to the employee announcing his resignation:

“Hello team.

From co-founder to CEO, chairman, executive committee chairman, interim CEO and CEO, I decided after playing a role at our company for nearly 16 years.

It’s finally time to leave. Why?

There is much talk about the importance of a company being “founder-led.” Ultimately, it is severely restricted and believes to be a single point of failure. I have endeavored to help this company break away from its founders and founders. There are three reasons I believe this is the right time.

The first is that Parag will be the CEO. The board has carried out a rigorous process, taking into account all options and unanimously appointed parags. Given how deeply he understands the company and its needs, he has been my choice for some time. Parag is behind all the important decisions:

It helped to turn this company around. He is curious, scrutinized, rational, creative, demanding, self-aware and humble.

He leads with heart and soul and is the one I learn every day. My trust in him as our CEO is very deep. Second, Bret Taylor has agreed to become chairman of the board. When I took office as CEO, I asked Brett to join the board, and he was excellent in every way. He is an entrepreneur, risk-taking, large-scale enterprise, technology, product understanding and engineer. Everything the board and company deserve now. Brett’s leadership role gives us great confidence in the strength of our board of directors in the future. You don’t know how happy this makes me!

The third is everyone. There are many ambitions and possibilities for this team. Think about this. Parag started here as an engineer who cares a lot about our work, and now he’s our CEO (I was on the same path … he did better! ). This alone makes me proud. I know what Parag can do

He lives it and knows what it needs, so he directs this energy best. You have the potential to change the company’s policies for the better. I truly believe this!

Parag is CEO from today. I will serve on the board during my term (May-ish) to assist in the transition between Parag and Bret. And then .. I leave the board. Would you like to stay or become a chair? I believe it’s really important to give Parag the space he needs to lead.And back to my story

At the previous point, I think it is important for the company to be able to become independent, free from the influence and direction of the founder. This is my decision and I want you to know that I own it. Of course, that was a big deal for me. I love this service and company … and you love it very much. I’m really sad … but still really happy. Not many companies reach this level. And not many founders choose their company over their ego. Prove that this was the right move.

Tomorrow at 9:05 am (Pacific Standard Time) we will have a full-time meeting to discuss everything. Until then, thank you for your trust in me and for your generosity in building that trust in Parag and yourself. I love you all.

Jack

PS I’m tweeting this email. One of my wishes is that Twitter Inc will be the most transparent company in the world. Hello mom! “

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Read Twitter co-founder Jack Dorsey’s Resignation

Source link Read Twitter co-founder Jack Dorsey’s Resignation

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