Jack Dorsey is stepping down as chief executive officer of Twitter Inc., handing over control of the microblogging site he founded and helped build into a global communications platform that, despite being widely used, has struggled to keep up with its social media peers.
Chief Technology Officer Parag Agrawal, who joined Twitter in 2011, was promoted to CEO. Dorsey will stay on the board of the San Francisco-based company until his term expires in 2022, Twitter said in a statement Monday. Agrawal, 37, is also joining the board, and director Bret Taylor was named independent chairman.
