Former Twitter CEO Jack Dorsey has stepped down from the board of the microblogging site. Dorsey decided to quit as Twitter CEO in November last year, handing over the baton to Parag Agrawal who was the then CTO of the company.
Notably Dorsey decided at that time that he would stay on the company’s board until his term expires at the 2022 meeting of stockholders.
However, Dorsey had already started distancing himself from Twitter he co-founded, leaving CEO’s position late last year to focus on Block, formerly known as Square.
His exit from the company marks an end of an era, as he was someone involved with the company in an official capacity since its inception.
"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.
Dorsey’s term came to an end on Wednesday and he did not stand for re-election for a board seat at an annual shareholders’ meeting, according to a report.
He also made it clear recently that he will never be the CEO of Twitter again, as reports of him rejoining the company surfaced after the $44 billion takeover bid by Tesla boss Musk.