Twitter founder Jack Dorsey steps down as CEO

Twitter chief executive officer Jack Dorsey has officially resigned from the company he cofounded.

He confirmed today that he'll be stepping down from his role as CEO, effective immediately. Dorsey announced in an email statement shared on social media that Chief Technology Officer Parag Agrawal will replace him as chief executive officer "starting today." The email addressed to the company reads:

After almost 16 years of having a role at our company... from co-founder to CEO to Chair to Exec Chair to interim-CEO to CEO... I decided it's finally time for me to leave. Why? 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. 

https://twitter.com/jack/status/1465347002426867720?s=20 Jack Dorsey will be replaced by Chief technology officer Parag Agrawal, who will take up the role immediately. In the email addressed to the company, Jack shares that Parag was his first choice for the role of CEO for "some time... given how deeply he understands the company and its needs". Dorsey also insists in the email that the move was his choice.

I want you all the know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company... and all of you so much. 

The company’s board is said to have been preparing for Mr Dorsey’s departure since last year, according to the Irish Times. Header image via Instagram/jackdhemsworth  READ NEXT: There's a new coffee van opening in Clonmel this week