After founding and working at Twitter for 16 years, Jack Dorsey is resigning.
Jack Dorsey publicized his resignation as CEO today on Twitter, sharing a screenshot of his resignation email.
Dorsey will stay on as a board member until about May and then walk away from the company completely. He said, “I believe it’s critical a company can stand on its own, free of its founder’s influence and direction.”
The decision seems to be one of mixed emotions for Dorsey, as he wrote, “I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company…and all of you so much. I'm really sad……yet really happy.”
Dorsey closed with his hopes for Twitter, saying, “My one wish is for Twitter Inc to be the most transparent company in the world.”
Twitter’s new CEO is the former chief technology officer Parag Agrawal, whom Dorsey describes as “curious, probing, rational, creative, demanding, self-aware, and humble” and as someone who “leads with heart and soul.” Agrawal has worked for Twitter for more than a decade.
As a result of Dorsey’s resignation, Twitter’s stock increased by over 10%.
Dorsey also appears to remain the CEO of Square, his online payment company.