Jack Dorsey (@jack) has been a popular social media platform Twitter’s CEO for a long time now. His tenure started in 2015 and is reportedly about to end soon. During his time, Twitter has soon exponential growth, partly thanks to the ton of features they have unveiled.
This report has come from CNBC’s David Faber and is a pretty big deal. Faber has stated that his sources are anonymous and that he doesn’t “know much else”. We are still unclear about who a potential candidate is to replace Jack.
As a part of Twitter’s growth goals which they announced relatively recently, the platform aims to reach 315 million monetizable users by the end of 2023 while also doubling its revenue by the same year.
More recently, Elliott Management, a major activist investor, tried to force Dorsey out of the job in 2020, concerned with his performance and Twitter’s growth. Jack convinced the board that he was up to the task and that he would deliver on their aims. The board replied by stating that a committee will be set up to “evaluate the CEO succession plan.”
This report gains credibility by the fact that Dorsey recently tweeted “I love twitter” and this hints towards a massive upcoming change. Jack has recently gained a lot of interest in Bitcoin, Web3, and other decentralized technologies which could be his new main focus. Jack is not just the CEO of Twitter though. He is also the CEO of Twitter’s parent company, Square. It is still unclear whether he will step down from just Twitter or from Square as well, although the latter is highly unlikely.
Update: Jack Dorsey has officially resigned as Twitter CEO!