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Jack Dorsey Steps Down As Twitter CEO

Twitter co-founder Jack Dorsey is stepping down as CEO of the social media company.

Chief technical officer, Parag Agrawal, will step into Dorsey’s role.

“It’s finally time for me to leave” Dorsey wrote in a statement, before heaping praise on his replacement, who joined Twitter in 2011, and has been head of technology since 2017.

“I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” Dorsey said of Agrawal.

In a separate email sent to staff, after CNN broke news of his departure, Dorsey revealed he would lead the board after his term was up.

“There’s a lot of talk about the importance of a company being ‘founder-led”, he wrote.

“Ultimately I believe that’s severely limiting and a single point of failure.

“Why not stay or become chair? I believe it’s really important to give Parag the space he needs to lead.”

Share prices jumped 11 per cent after Dorsey announced he was stepping down.

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