In massive business and social media news, we should seriously talk about the fact that a lot of you Twitterholics—all over the Twitterverse—are still unaware that Twitter CEO, Jack Dorsey, recently resigned from the bird app.
Initially, I started seeing reports citing an anonymous source, but then Dorsey himself tweeted:
Jack also announced that effective immediately, Chief Technology Officer, Parag Agrawal, would begin as CEO.
Still and all, Dorsey added that yes, he himself will be active on the board until around May next year. But then, after that, he's getting the hell out of the way.
What a weird, wild ride it's been for Jack Dorsey.
If you don't know the history of Twitter, he was pushed out as CEO back in 2008 and later returned in 2015. Then last year, he saw Twitter stakeholder, Elliott Management, trying to oust him again—basically because Dorsey's also the CEO of Square and reportedly, execs were worried that running both was stretching resources at Twitter too thin.
In the coming weeks, months and years, it'll be interesting if anything with Twitter looks drastically different. Not just in the way it looks, though. Or in the way it works, either. I'm more particular about how far it's going to be moderated.
Right now, it appears that Wall Street doesn't really know how to react to this. When the news first started breaking, the stock price went up 10%, then later it dropped back to essentially where it was.
Ultimately, time will tell what the hell this is actually going to do.
