Twitter announced this Monday, November 29 the departure, with immediate effect, of its managing director and co-founder Jack Dorsey, who will be replaced by the group’s technical manager, Parag Agrawal.
“I decided to quit Twitter because I think the company is ready to cut the cord with its founders”Jack Dorsey said in a statement that marks the end of an era.
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Financial news channel CNBC had revealed the information earlier.
Since his return to the helm of the company at the Blue Bird in October 2015, the relaxed entrepreneur has been regularly criticized for not having let go of the reins of his other company, the specialist in mobile payments Square, to be devote only to Twitter.
Become billionaire in 2013 with the IPO of Twitter, Jack Dorsey is today at the head of a fortune estimated at 11.8 billion dollars by the site of the magazine “Forbes”. He had made a first stint as general manager of Twitter between 2007 and 2008, finally ousted by the board of directors, dissatisfied with his management.
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The market reacted favorably to the information, with the Twitter title taking 4.16% in the first exchanges on Wall Street.