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Jack Dorsey Steps Down as CEO of Twitter

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Twitter CEO, Jack Dorsey, has announced via Twitter that he is stepping down after almost 16 years.

In a tweet from his personal Twitter account, Dorsey announced that he would be stepping down as CEO of Twitter and named former CTO, Parag Agrawal as the new CEO of Twitter, with immediate effect.

New CEO Unanimously Appointed

Dorsey said in his announcement that he has decided it is time for him to leave, as the board of directors approved Agrawal and 'unanimously appointed' the new CEO. Dorsey also said that Bret Taylor has agreed to become the new Twitter board chair, which is another reason he will be stepping down, as he has confidence in Taylor to strengthen the board going forward.

Jack Dorsey is currently CEO of Square, point-of-sale payments company that he founded before Twitter, and he will remain CEO of Square.

Is Dorsey Focusing on Crypto?

Could this mean that Dorsey is focusing his efforts on the blockchain and cryptocurrency industry? He has previously stated that bitcoin will eventually "unite the world" and become the world's 'single currency' in ten years.  

It is worth noting that Square's Cash App has added support for BTC trading, which indicates that he could be working on something bigger than his companies.

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