Twitter co-founder and former CEO Jack Dorsey is stepping down from the company’s board of directors after 16 years since its founding. Dorsey’s departure from the board had been planned since November, when the entrepreneur resigned from the CEO position and made public his farewell letter.
“Parag is CEO starting today. I’m going to serve on the board through my term (May-ish) to help Parag and Bret with the transition. And after that.. I’ll leave the board,” Jack Dorsey wrote in an email he sent to employees announcing his resignation.
Jack Dorsey leaves but Elon Musk arrives
In that same missive, Dorsey said he believed that founders should not lead companies for long because it is “severely limiting” and his continuation at the helm could represent a “point of failure” for Twitter.
Musk said his vision for Twitter is very similar to that of his co-founder. Dorsey, for his part, said he is “happy” at Musk’s possible full buyout, given that the Tesla owner is “the single solution he trusts.”