According to one industry analyst, Jack Dorsey's resignation as Twitter CEO is "surprising, but not entirely unexpected."
On Monday, Twitter co-founder and CEO Jack Dorsey announced his retirement and stated that he will depart the company by spring 2022, stating that it was "now time for me to leave."
It brings an end to a tumultuous association with the company; he had previously left in 2008, returned in 2011, and then become CEO for the second time in 2015.
Last year, he faced an unsuccessful attempt to depose him as CEO from Paul Singer, the billionaire founder of hedge fund Elliott, who encouraged him to resign as CEO.
Mr Dorsey should not be the CEO of both Square and Twitter, according to Elliott and Mr Singer, until an agreement is reached with the technology company on the matter.
“He has been juggling two high-profile CEO roles for some time, much to the frustration of some investors,” he told the PA news agency.
“During this time, Jack has fairly successfully navigated Twitter through the most challenging years in its history and had to make difficult and controversial decisions, such as banning a sitting president’s account, tackling online abuse and harassment on its platform, and battling misinformation spread via tweets during a global pandemic.
“This will have been a hard decision to make but ultimately it’s the right one, and one that is a fitting endnote to this chapter in Twitter’s history.”
Mr Dorsey confirmed his replacement would be current chief technology officer Parag Agrawal, a move that Mr Navarra said he believed would not cause any immediate shake-ups for users of the site, but noted he shared an interest in emerging technologies, like Mr Dorsey.