Twitter founder Jack Dorsey has resigned as the company’s CEO, with chief technology officer Parag Agrawal promoted to fill that slot. Dorsey, who was concurrently serving as CEO of financial services firm Square and has recently become active in cryptocurrency, will retain his Twitter board seat until expiration of his term at the 2022 shareholders meeting. “I want you all to know that this was my decision and I own it,” Dorsey said in a tweet yesterday. “There aren’t many companies that get to this level. And there aren’t many founders that choose their company over their own ego. I know we’ll prove this was the right move.” Continue reading Jack Dorsey Steps Down, Parag Agrawal New CEO of Twitter

Twitter and activist investor Elliott Management have come to an agreement to keep chief executive Jack Dorsey in his position, at least for now. Elliott Management, a $40 billion hedge fund that has a 4 percent stake in Twitter, sought to oust Dorsey from his position, claiming that, by splitting his attention between Twitter and Square, the chief executive let the former company lose its competitive edge and slip behind rivals. On February 21, Elliott nominated four candidates for Twitter’s board to add to the pressure. Continue reading Twitter Settles with Activist Investor, Dorsey Keeps Position