Twitter CEO Announces Resignation

Twitter CEO Announces Resignation

( – California-based podcasting company Odeo debuted a short messaging service (SMS) in March 2007. Initially called Twttr, the platform’s creators created a corporate entity called Twitter, Inc. the following month, with co-founder Jack Dorsey named as the company’s CEO. However, his reign came to an abrupt end on Monday, November 29, 2021.

Dorsey announced his decision to step down, “starting today,” using a company-wide email. He posted a screenshot of that message about an hour later on his Twitter account, and corporate officials issued a press release discussing the company’s future later that day.

The former CEO offered little in the way of an explanation for his abrupt departure, though his email did list three reasons for the timing of his decision. He noted the decision by Twitter’s board of directors to appoint Parag Agrawal as his replacement and Bret Taylor to take over as board chair.

Agrawal joined Twitter as a software engineer and quickly rose up to become the company’s chief science technology officer in 2017. Taylor previously served as Facebook’s chief technical officer for years and joined Twitter’s board of directors in 2016.

Twitter has attracted significant criticism over its long-standing allegations of throttling Conservative voices and its January 8 decision to permanently suspend then-President Donald Trump’s account.

While it’s unknown why Dorsey resigned, it’s worth pointing out a quick review of an October 26 letter to Twitter shareholders discussing the company’s third-quarter earnings. The letter indicated the company suffered a $743 million operating loss due to a “one-time litigation-related net charge of $766 million.” Twitter showed a $56 million operating income gain for the same period in 2020.

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