Former Twitter CEO Jack Dorsey on Thursday stepped down as the board member of the microblogging platform, at a time when Tesla CEO Elon Musk is fighting with the micro-blogging platform to reveal the actual number of fake or spam accounts. Jack Dorsey’s exit from the Twitter board means that he has implemented a full exit from the social media giant, months after he quit as CEO of Twitter and handed over the baton to Parag Agrawal, an Indian-origin techie who was the CTO at the time.
Dorsey quit as Twitter CEO in November last year. At the time, Twitter noted that Dorsey would stay on the board “until his term expires at the 2022 meeting of stockholders”. That ended on Wednesday as Jack Dorsey did not stand for re-election at the Twitter’s board during an annual shareholders’ meeting, according to a Bloomberg report.
“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep. His work over the past 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” Dorsey had said at the time he exited as CEO of Twitter.
Jack Dorsey has categorically said that he will never be the CEO of Twitter again, as reports of him rejoining the micro-blogging platform surfaced after the $44 billion takeover by Musk.
Dorsey, who is now running financial payments platform Block (earlier Square), also said that no one should be the CEO of Twitter. At the shareholders’ meeting on Wednesday, Twitter’s board voted to oust board member and Musk ally Egon Durban, CEO of private equity firm Silver Lake Partners, reports TechCrunch.
Durban led Musk’s deal team during the 2018 attempt failed effort to take Tesla private.
Elon Musk has put the $44 billion Twitter deal on hold over the presence of fake, or spam accounts and wants the micro-blogging platform to come clean on the actual number of bots. When Elon Musk bought 100 per cent stake of Twitter, Dorsey had shown support by saying that the Tesla CEO was the only one who could bring about changes in the platform.
Dorsey’s exit as the CEO last year had come as a surprise to many, unlike his exit as board director this time. “There’s a lot of talk about the importance of a company being “founder-led.” Ultimately I believe that’s severely limiting and a single point of failure. I’ve worked hard to ensure this company can break away from its founding and founders,” he ad written at the time.
Jack Dorsey’s exit from the Twitter board makes the company officially “founder-less”, as both the founders of Twitter are no longer associated with the microblogging platform.
(With IANS inputs)
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