Jack Dorsey, the now-former Twitter CEO, has resigned from his role in the company. He said that the resignation decision was made to enable him to concentrate on his other firm, payments giant Square, to greater heights.
Dorsey has been the CEO of both of these public companies since 2015 when he returned to Twitter, the social network he helped launch. In 2021, one major Twitter shareholder, hedge fund Elliot Management, wanted to replace Dorsey because the company needs to have a CEO who is solely focused on running the company.
The hedge fund later backed off but it seems like it has now got its wish. Dorsey has stepped aside to make way for chief technology officer Parag Agrawal. In an email sent to Twitter staff, posted by Dorsey, the outgoing boss insists that “this was my decision and I own it”.
Dorsey is yet to comment on his role at Square, which he co-founded in 2009. However, the payments company might be a better channel for his crypto passion.