Twitter co-founder Jack Dorsey is stepping down as CEO of the social media platform. He will be succeeded by Twitter’s current chief technology officer, Parag Agrawal. Dorsey will remain on board until his term expires in 2022. Agrawal came on board Twitter in 2011 and has been CTO since 2017.
“If he’s actually stepping away from Twitter this time, Dorsey leaves behind a mixed legacy,” said Paul Barrett, deputy director of the NYU Stern Center for Business and Human Rights. “A platform that’s useful and potent for quick communication but one that’s been exploited by a range of bad actors, including former President Donald Trump, who did his best on Twitter to undermine democracy — until Dorsey’s people finally had enough and shut him down.”
Dorsey has faced several distractions as CEO, starting with the fact that he’s also founder and CEO of the payments company Square. Some big investors have openly questioned whether he could effectively lead both companies. He proved he could do both.
While Twitter has high-profile users like politicians and celebrities and is a favorite of journalists, its user base lags far behind old rivals like Facebook and YouTube and newer ones like TikTok. It has just over 200 million daily active users, a common industry metric.
In his goodbye letter, Dorsey said he has “worked hard to ensure this company can break away from its founding and founders” and that to focus too much on whether companies are led by their founders is “severely limiting.”