Jack Dorsey, the co-founder of Twitter, stepped down as chief executive on Monday, as the social network appointed chief technology officer Parag Agrawal as his successor.
Dorsey, 45, gave no explanation for his resignation but said the company was “ready to move on from its founders”. In an email to staff, he said he had a “bone deep” trust in Agrawal, who joined Twitter 10 years ago as a software engineer and worked his way up.
The succession had been planned for more than a year, said one person familiar with the process, as part of a truce between Twitter and the activist investor Elliott Management, which had pushed for Dorsey’s removal.
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