Twitter co-founder Jack Dorsey officially stepped down as chief executive of the company.
Dorsey founded Twitter in 2006, and has been serving as chief executive of both Twitter and payment firm Square.
He had been under pressure from some investors to step down last year, in favour of a CEO with a single focus.
Twitter’s share price jumped slightly as rumours of his departure emerged.
Dorsey, who co-founded the social media giant in 2006, served as CEO until 2008 before being pushed out of the role. He returned to Twitter as boss in 2015 after former CEO Dick Costolo stepped down.
Shares have jumped 85% since Dorsey took over as CEO Oct 5. 2015. Meantime, Square shares have surged 1,566% since its Nov. 19, 2015 initial public offering.
Jack Dorsey in an update on his official Twitter account resigned on Monday November 29.
not sure anyone has heard but,
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
— jack⚡️ (@jack) November 29, 2021