Jack Dorsey reportedly preparing to step down as Twitter CEO

sources of

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Jack Dorsey, the CEO and co-founder of Twitter, is believed to be preparing to step away from his role as the head of the micro-blogging app.

As the head of Twitter, Jack Dorsey has had to weather many controversies on the site, but it seems the next one will primarily feature him. It is thought that the CEO will soon be stepping down.

According to anonymous sources of CNBC on Monday, Dorsey is expected to step down from his position. Few details are provided by the sources, such as when it would be announced or the reasons behind the move.

Following the report, Twitter’s shares rocketed up 11%. Twitter has so far declined to comment on the matter.

If true, this would be Dorsey’s second exit from the CEO role. In 2008, he moved from being a CEO to the board chairman, but then became interim CEO in 2015 following the resignation of Dick Costolo.

Dorsey is also functioning as the CEO of payment platform Square, which has caused problems in the past. Investment firm Elliott Management sought to remove Dorsey as CEO in 2020, with firm founder Paul Singer calling for Dorsey to step down as CEO for one of the two public companies instead of heading up both.

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