Home Australia Jack Dorsey is set to step down as CEO of Twitter  #englishheadline #Jack #Dorsey #set #step #CEO #Twitter

Jack Dorsey is set to step down as CEO of Twitter  #englishheadline #Jack #Dorsey #set #step #CEO #Twitter

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The new Twitter CEO is already facing racism claims, after a 2010 tweet resurfaced in which he appears to call all white people racist.

In the tweet, published on October 26, 2010, Parag Agrawal, an Indian-American man who was named as Jack Dorsey’s successor on Monday, wrote: ‘If they are not gonna make a distinction between Muslims and extremists, then why should I distinguish between white people and racists?’

The tweet was apparently quoting comedian Aasif Mandvi, who had appeared in an episode of The Daily Show in a segment pitting black people against Muslim people, playing on the irrational fear of the two minorities.

The tweet resurfaced on Monday after Agrawal, 45, was named the new CEO of Twitter on Monday as Dorsey officially announced he is stepping down from the company. 

Mia Cathell, a news editor for the Post Millenial, joked that he apparently does not know how to scrub his tweets.

Agrawal joined Twitter in 2011 and has been serving as the CTO since 2017.

As the new CEO, he will have incredibly tough targets to meet, after Twitter announced earlier this year it aims to double its annual revenue by 2023 and 315 million monetizable daily active users.  

A tweet from 2010 in which Parag Agrawal, the new Twitter CEO, apparently quoted comedian Aasif Mandvi resurfaced following the announcement of his promotion

Mia Cathell, a news editor for the Post Millenial, joked that it seemed the new CEO does not know how to delete his tweets

Mia Cathell, a news editor for the Post Millenial, joked that it seemed the new CEO does not know how to delete his tweets

Jack Dorsey stepped down as the chief executive of Twitter on Monday

Parag Agrawal, the Twitter CTO, will replace Dorsey as the CEO of the social media giant

Jack Dorsey, left, stepped down as the chief executive of Twitter on Monday and announced that Parag Agrawal, right, who currently serves as the Twitter CTO, will step in to replace him as CEO of the social media giant

In an email to company employees he posted to Twitter on Monday, Dorsey denied that he was being pushed out of the company’s leadership and claimed to be resigning so that the company can move on from its founders.

‘I’ve worked hard to ensure this company can break away from its founding and founders,’ he wrote, noting that ‘there aren’t many founders that choose their company over ego.

‘I know we’ll prove this was the right move.’  

Dorsey, 45, was the CEO of the social media giant when it was first founded in 2006, and oversaw its startup. 

He has since faced criticism from top Republican lawmakers for stifling free speech on Twitter and banning former President Donald Trump from the social media site. There have also been calls for tighter legislation on what can be posted on social media sites, with some claiming the site spreads misinformation.

And, there have been concerns about his time being divided between Twitter and payments company Square Inc., both multimillion dollar companies.

During his tenure, revenue for the social media giant has grown sluggishly, with the New York Times reporting that a stock in the company is now worth roughly the same as it was a year ago.

After news of his departure broke, shares of Twitter rose 11 percent, but fell 6 percent after he announced his departure, to 5 percent above trading yesterday. By the afternoon, shares were down down nearly one percentage point

After news of his departure broke, shares of Twitter rose 11 percent, but fell 6 percent after he announced his departure, to 5 percent above trading yesterday. By the afternoon, shares were down down nearly one percentage point

Dorsey was previously pushed out of his leadership position in the company in 2008 amid claims he kept leaving work early to enjoy other pursuits like yoga and fashion design, and chose improvements to the site over revenue. 

In March 2011, Dorsey was named executive chairman, and when new CEO Dick Costolo announced his resignation in June 2015, Dorsey returned.

He will now remain on Twitter’s board of directors through his current term, which runs through 2022, but will step aside as chairman, with current board member Bret Taylor set to assume those responsibilities. Once his term ends, Dorsey told staff, he will leave the company entirely.  

His departure comes after a major bust up between Dorsey and Elliott Management last year, a hedge fund run by Paul Singer which has a substantial stake in Twitter, which ended in the hedge fund trying to replace him as CEO.

While Dorsey managed to hold onto his role, the hedge fund was able to force Twitter to make multiple changes to its corporate structure. It was announced at the time that a board committee would be formed to ‘evaluate the CEO succession plan,’ according to The Verge.

After CNBC broke the news of Dorsey’s imminent departure, Twitter’s share price soared by 11 percent, while those of Square Inc, which Dorsey also serves as the CEO of, were up 3 percent.

By 10am, NASDAQ had announced it would halt trading on the social media giant, but it soon resumed after Dorsey’s announcement, dropping six percent to be up only 5 percent from the day before.

By the afternoon, shares of the social media giant dipped nearly 1 percent. 

On Sunday, Dorsey tweeted: ‘I love Twitter.’ 

Dorsey announced his resignation with a screengrab of an email he sent to employees

Dorsey announced his resignation with a screengrab of an email he sent to employees

On Sunday, Dorsey tweeted that he loves Twitter

On Sunday, Dorsey tweeted that he loves Twitter

In the email to company employees, Dorsey denied that he was pushed out of the company.

He wrote: ‘After almost 16 years of having a role at our company from co-founder to CEO to chair to exec chair to interim CEO to CEO, I decided it’s finally time for me to leave.

‘There’s a lot of talk about the importance of a company being “founder led.” Ultimately, I believe that’s severely limiting and a single point of failure.

‘I’ve worked hard to ensure this company can break away from its founding and founders,’ he noted, citing Agrawal’s agreement to become CEO and Bret Taylor agreeing to become the board chair as a reason he decided to step down now.

‘The board ran a rigorous process considering all options and unanimously appointed Parag,’ Dorsey wrote of Agrawal. ‘He’s been my choice for some time given how deeply he understands the company and its needs.

‘He’s curious, probing, rational, creative, demanding, self-aware and humble,’ Dorsey continued. ‘He leads with heart and soul and is someone I learn from daily.

‘My trust in him as our CEO is bone deep.’ 

Dorsey also noted to his employees: ‘I want you all to know this was my decision and I own it. It was a tough one for me, of course. I love this company and all of you so much. I’m really sad… yet really happy.

‘There aren’t many companies that get to this level,’ Dorsey continued. ‘And there aren’t many founders that choose their company over ego.

‘I know we’ll prove this was the right move.’   

Dorsey first became the CEO of Twitter when it was founded in 2006. In an email to employees posted to his Twitter on Monday, he said he wanted the company to move beyond its founders

Dorsey first became the CEO of Twitter when it was founded in 2006. In an email to employees posted to his Twitter on Monday, he said he wanted the company to move beyond its founders

Bret Taylor, the president and chief operating officer at Salesforce, was named the new chair of Twitter's board on Monday

Bret Taylor, the president and chief operating officer at Salesforce, was named the new chair of Twitter’s board on Monday

In response, Agrawal also posted a screengrab of an email he sent to employees, writing: ‘Thank you Jack, I’m honored and humbled, and I’m grateful for your continued mentorship and your friendship.

‘I’m grateful for the service that you built, the culture, soul and purpose you fostered among us and for leading the company through really significant challenges.

‘I’m grateful for the trust you’ve put in me and for your continued partnership.’

Agrawal continued: ‘Team, most of all, I’m grateful for all of you, and it’s you who inspire confidence in our future together.

‘I joined this company 10 years ago when there were fewer than 1,000 employees,’ he wrote. ‘While it was a decade ago, those days feel like yesterday to me.

‘I’ve walked in your shoes, I’ve seen the ups and downs, the challenges and obstacles, the wins and the mistakes,’ Agrawal told the employees. ‘But then and now, above all else, I see Twitter’s incredible impact, our continued progress and the exciting opportunities ahead of us.

‘Our people and our culture are unlike anything in the world.

‘There is no limit to what we can do together,’ he said, concluding by saying: ‘The world is watching us right now, even more than they have before.

‘Lots of people are going to have lots of different views and opinions about today’s news. It is because they care about Twitter and our future, and it’s a signal that the work we do here matters.

‘Let’s show the world Twitter’s full potential.’

Agrawal has served as CTO since 2017, and has been with Twitter for more than a decade. He had been in charge of strategy involving artificial intelligence and machine learning and he led projects to make tweets in users’ timelines more relevant to them.

He is an alumnus of IIT Bombay, where he studied Computer Science and Engineering. He has also worked at other major tech companies like Microsoft, Yahoo and AT&T. 

Bret Taylor, meanwhile, is the president and chief operating officer at Salesforce. He has served on Twitter’s board since July 2016, and previously worked as a chief technology officer at Facebook and a Group Project manager at Google, where he co-created Google Maps, according to his LinkedIn.

Following the announcement on Monday, Taylor tweeted his congratulations to Agrawal and thanked Dorsey for his leadership.

‘I’m honored to be the next chair of Twitter’s board,’ he wrote, adding: ‘Today is an exciting day for Twitter and all of our stakeholders.’ 

Parag Agrawal, the new CEO, tweeted his gratitude to Dorsey following the announcement

Parag Agrawal, the new CEO, tweeted his gratitude to Dorsey following the announcement

He also shared a screengrab of an email he sent to employees, outlining his future of the company

He also shared a screengrab of an email he sent to employees, outlining his future of the company

Bret Taylor also tweeted that he is honored to be the next chair of Twitter's board

Bret Taylor also tweeted that he is honored to be the next chair of Twitter’s board

The news of Dorsey’s departure comes after years of the social media mogul facing scrutiny for his apparent censorship of conservative voices, with some accusing him of bias.

In January, following the unrest at the Capitol, the company announced it had permanently suspended former President Donald Trump citing ‘the risk of further incitement of violence.’

He later defended the decision in a series of tweets, writing: ‘I do not celebrate or feel pride’ in the ban.

He added, ‘I believe this was the right decision for Twitter. We faced an extraordinary and untenable circumstance, forcing us to focus all of our actions on public safety.’ 

‘Offline harm as a result of online speech is demonstrably real, and what drives our policy and enforcement above all,’ he continued.

‘Having to take these actions fragment the public conversation. They divide us. They limit the potential for clarification, redemption, and learning. And sets a precedent I feel is dangerous: the power an individual or corporation has over a part of the global public conversation,’ Dorsey wrote. 

The company also faced criticism after Twitter stopped users from linking to stories alleging Joe Biden may be corrupt ahead of the 2020 election. 

The row exploded after the New York Post reported that Hunter Biden allegedly offered to introduce his Ukrainian business partners to his father, who was vice-president at the time, in exchange for cash.

The report was based on an email recovered from an abandoned laptop that had been turned over to Donald Trump’s Republican allies.

But, despite appearing in a respected newspaper, the social-media giants blocked users from spreading the story, with Facebook saying it had to be fact-checked and Twitter saying it violated its rules on using hacked material.

The Twitter accounts of the newspaper, of the official Trump campaign and of White House press secretary Kayleigh McEnany were even temporarily banned from posting anything at all because of the furor.

In the aftermath, McEnany accused the social media giant of bias and censorship for only banning content that ‘hurts the side of the aisle that Silicon Valley prefers’.

Speaking with Sean Hannity on Fox News, McEnany accused the media giant of allowing articles that accused Trump of collusion with Russia to be posted on its site, despite the president being cleared during his impeachment trial earlier this year. 

She also revealed that the lock on the account would be permanent unless she deletes the tweets, describing herself as being ‘held at gunpoint’ by the platform. 

‘This was a news story about emails and even the Biden campaign does not dispute the authenticity of the emails. They had a chance today and they didn’t,’ she said, knocking Twitter CEO Jack Dorsey’s claim that the Biden story had been restricted because personal information was published. 

‘Meanwhile, you have the story about President Trump in The Atlantic where you had more than 20 sources on the record disputing the content of the email. 

‘You have death to Israel that is permitted on Twitter but not an email which is reported by … the New York Post, a credible outlet, you are not allowed to share that information. 

‘Make no mistake, if they can ban the press secretary of the United States for President Trump, they can ban any American citizen and that is pathetic,’ McEnany added.   

‘We have to hold Twitter accountable, and Facebook too, it was banning the transmission of the story simply because ideologically, it hurts the side of the aisle that Silicon Valley prefers. It’s sad, it’s censorship. This is not America.’ 

Afterwards, Dorsey was forced to apologize, describing the decision to block links to the story as ‘unacceptable’.

White House Press Secretary Kayleigh McEnany hit out at Twitter during an interview with Fox after they locked her personal account over a tweet referencing a story about Joe Biden 's dealings with his son Hunter's business associates in the Ukraine

White House Press Secretary Kayleigh McEnany hit out at Twitter during an interview with Fox after they locked her personal account over a tweet referencing a story about Joe Biden ‘s dealings with his son Hunter’s business associates in the Ukraine





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#Jack #Dorsey #set #step #CEO #Twitter

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