Loading...

Ex-CEO Jack Dorsey steps down from Twitter's board

Ex-CEO Jack Dorsey steps down from Twitter's board
Jack Dorsey  |  Photo Credit: Reuters
26 May, 2022
Loading...

Former Twitter CEO Jack Dorsey has stepped down from Twitter’s board of directors amid Tesla CEO Elon Musk putting the $44 billion Twitter acquisition plan on hold.  

Dorsey quit as Twitter CEO in November last year, handing over his ‘reign’ to Indian-origin Parag Agrawal who was then the CTO of the company. At the time, Twitter noted in a statement that Dorsey would stay on the board “until his term expires at the 2022 annual shareholders meetings”. That time has finally come. Dorsey also heads the financial payments platform Block, formerly known as Square.  

Also read: Musk-Twitter deal: What has happened so far

Loading...

He had already begun to distance himself from the social media platform he co-founded, and said that he will never be the CEO of Twitter again. But reports of him re-joining the micro-blogging platform surfaced in April when discussions were rife over Musk’s buyout of Twitter.   

The move was always a part of the plan when Dorsey stepped down as CEO in November 2021, so it did not come as surprise. But Dorsey’s exit from the board marks the end of an era, as he has been involved with the company in an official capacity since its founding.   

Also read: Elon Musk pegs more equity commitment to bring down Tesla loans from Twitter deal

Loading...

With Musk is still poised to buy Twitter, it is expected that the microblogging site will undergo a massive transformation post the buyout. Earlier Dorsey had supported Musk’s acquisition offer. His tweet read, “Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.”  

Nonetheless, Twitter’s future continues to be uncertain. Musk has put the Twitter deal on hold over the presence of fake and spammy accounts and wants the micro-blogging platform to come clean on the actual number of bots.