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National & World News

NEW: Twitter names new CEO; Jack Dorsey will step down

Parag Agrawal To Replace Jack Dorsey , As Twitter CEO.Parag Agrawal To Replace Jack Dorsey , As Twitter CEO.On Nov. 29, Twitter announced the company's chief technology officer, Agrawal, will take over for Dorsey, effective immediately.I’ve decided to leave Twitter because I believe the company is ready to move on from its founders, Jack Dorsey, via statement.Dorsey will remain on the board until his term expires in 2022.Bret Taylor, Salesforce president and COO, will take over as chairman of the board.Bret Taylor, Salesforce president and COO, will take over as chairman of the board.According to Dorsey, Agrawal had been his choice to helm the company “for some time given how deeply he understands the company and its needs.”.Twitter is now executing against an ambitious multiyear plan to dramatically increase the company’s reach and value, and we look forward to the next chapter of Twitter’s story, Jesse Cohn, Twitter's managing partner, and Marc Steinberg, senior portfolio manager, via CNBC.Twitter is now executing against an ambitious multiyear plan to dramatically increase the company’s reach and value, and we look forward to the next chapter of Twitter’s story, Jesse Cohn, Twitter's managing partner, and Marc Steinberg, senior portfolio manager, via CNBC.Having gotten to know both incoming Chairman Bret Taylor and incoming CEO Parag Agrawal, we are confident that they are the right leaders for Twitter at this pivotal moment for the company, Jesse Cohn, Twitter's managing partner, and Marc Steinberg, senior portfolio manager, via CNBC.Dorsey remains CEO of digital payments company Square.Dorsey remains CEO of digital payments company Square
By The Associated Press
Updated Nov 30, 2021

NEW YORK — Twitter has named Parag Agrawal as its new CEO, according to a report by CNBC.

Co-founder Jack Dorsey will step down as CEO but will remain as a member of the board until his term expires at the 2022 shareholders meeting, according to a report.

Agrawal is Twitter’s chief technology officer.

Nasdaq reportedly has suspended trading in Twitter after the report that Dorsey will step down as the company’s chief executive.

Twitter’s stock, which has consistently underperformed the market, jumped more than 10% at the opening bell Monday before its trading was suspended.

CNBC first reported that Dorsey may step down soon, citing anonymous sources.

Twitter Inc. did not immediately respond to a request for comment from The Associated Press.

Dorsey is also the top executive at Square, a financial payments company that he founded, and some big investors have openly questioned whether he can be effective leading both.

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