Twitter CEO Jack Dorsey resigned today (Sunday). The company’s stock soared after the announcement. As mentioned, the 45-year-old Dorsey served as Twitter CEO and CEO of Square. The importance of a company to be “led by the founder” is limiting and may lead to failure. I worked hard to ensure that this company could break away from its founders. I believe this is the right time. “
not sure anyone has heard but,
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
— jack⚡️ (@jack) November 29, 2021
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In any case, whoever is the replacement – he or she will have to meet the company’s ambitious goals, which include doubling annual revenues by the end of 2023. Another goal set by Twitter is to reach the threshold of 315 million active users every day.
Last year Dorsey was in danger of being ousted when the Elliott Management fund sought to replace him. The founder of the fund wondered whether Dorsey could serve as CEO of the two public companies, and called on him to retire from one of them, before they reach any deal with the fund.
Dorsey, the founder of Twitter, served as the company’s CEO until 2008, when he was fired. He returned to the company in 2015, after former CEO Dick Costolo retired. Twitter declined to comment for this article.
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