Twitter chief executive Jack Dorsey set to step down, report says

Photograph: Anushree Fadnavis/Reuters

  • Dorsey co-founded site in 2006 and posted world’s first tweet

  • Company not immediately available for comment

Twitter co-founder Jack Dorsey is expected to step down from his executive role at the social media company, according to CNBC.

Dorsey currently serves as chief executive officer of Twitter and Square, his digital payments company, and has faced pressure from Twitter stakeholders Elliott Management and billionaire investor Paul Singer to step down from one of those roles.

The company was not immediately available for comment. Twitter’s shares rose 11% after the news broke.

In his last tweet on the site, posted Sunday, Dorsey wrote: “I love twitter.”

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Dorsey, 45, co-founded the microblogging site in 2006 and posted the world’s first tweet: “Just setting up my twttr.”

He founded Square in 2009 and took some time away from Twitter, returning as interim chief executive in 2015 before making the post full-time.

More details soon …

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