The company also recently introduced a program to crowd source fact-checking misinformation.ĭorsey has been at the helm of Twitter as it experimented with new innovations in social media including most recently live audio products and subscription services. Dorsey took a stronger line than his social-media peers during Donald Trump’s presidency, banning the former president from Twitter and telling Congress that he takes some responsibility for online organizing that led to the Jan. and has been taking an increasing interest in cryptocurrencies recently ĭorsey has also overseen the company when it faced widespread pressure from politicians and activists to take a more proactive role in moderating hate speech, misinformation and other forms of objectionable content from political leaders. “Investors recognize having one man be the CEO of two companies wasn’t very effective in terms of execution.” Jack Dorsey, 45, is also the head of payments company Square Inc. “When you compare Twitter to all the other social media platforms, the level of engagement they had, they never were able to monetize it as well as some” other rivals.
“The headline takeaway here is Twitter’s execution,” said Mandeep Singh, an analyst at Bloomberg Intelligence. In an unusually bubbly tech equity market, Twitter has lagged behind its peers, with its shares slumping almost 10% this year, while Meta Platforms Inc., formerly Facebook, has risen 23%. Twitter couldn’t immediately be reached for comment. Dorsey could lose his position if those goals weren’t met, Bloomberg reported.ĬNBC reported the news earlier Monday, without providing any other details. The deal came at a cost, though: Twitter had to grow its monetized daily users by 20% or more and boost revenue growth. Agrawal, who became chief technology officer in 2017, will become a member of the board. The hedge fund reached an agreement with Twitter and private equity group Silver Lake to appoint three new directors to Twitter’s board and create a committee to review its leadership and governance. A year earlier, he had also said he planned to spend up to six months of the year working in Africa to better understand the continent’s internet users, a move that was ultimately scrapped due to Covid 19. In 2020, Dorsey came under pressure from activist investor Elliott Management Corp. Dorsey stepped down as CEO of Twitter in 2008, but returned to the company in 2015. and has been taking an increasing interest in cryptocurrencies recently.
It’s his time to lead.”ĭorsey, 45, is also the head of payments company Square Inc. I’m deeply grateful for his skill, heart, and soul. His work over the past 10 years has been transformational. “My trust in Parag as Twitter’s CEO is deep. “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders,” Dorsey said in the statement. The move is effective immediately, though Dorsey will stay on the board of the social media company until his term expires in 2022, Twitter said in a statement Monday. Jack Dorsey, the co-founder and chief executive officer of Twitter Inc., is stepping down, ceding the position to the company’s Chief Technology Officer Parag Agrawal.
0 kommentar(er)
