The head of Twitter has resigned – Novinky.cz

Twitter runs a social network of the same name. The company’s shares rose more than ten percent after informing that Dorsey was about to resign, later erasing part of the gains.

“I decided to leave Twitter because I believe the company is ready to break the ties with its founders. My confidence in Paraga as Twitter director is deep. His work over the last ten years has been transformative. I am deeply grateful for his abilities, heart and soul. “It’s time for leadership,” Dorsey said in a statement.

Agrawal was born in India. He joined Twitter in 2011. Since October 2017, he has been working as the technical director. He studied at the Indian Institute of Technology in Mumbai and Stanford University.

The investment company Elliott Management, a Twitter shareholder, sought to replace Dorsey as CEO last year. But then she agreed with the company’s management. Dorsey is also the CEO of his Digital Payments company, and Elliott Management founder Paul Singer wondered if Dorsey should run the two publicly traded companies. He called on him to step down as CEO for one of them.

The new CEO has a difficult task ahead of him, meeting the company’s demanding internal goals. Earlier this year, Twitter said it wanted 315 million daily users to see the ad by the end of 2023. It wants to double sales, at least $ 7.5 billion (CZK 170.5 billion), Reuters reported.

Konflikt s Trumpem

Twitter got into a difficult situation before the US presidential election in 2020. He denied former US President Donald Trump access to his account, and Dorsey defended the move by saying that riots in Congress on January 6 and Trump’s tweets after the incident led to security threats. In July, Trump sued the company, along with Facebook and YouTub, on suspicion of censorship.

Dorsey is a co-founder of Twitter. The beginnings of the company are associated with his first tweet, which he sent in March 2006. In 2007 he became CEO, but the following year he was forced to leave. He returned to office in 2015.

Twitter lost ground in the third quarter due to the extraordinary costs of settling the lawsuit. However, sales increased due to interest in advertising sales worldwide.

The company’s loss from July to September was $ 536.8 million, compared to a profit of $ 28.7 million in the same period last year. Sales rose 37 percent to $ 1.28 billion. Of this, advertising revenue was $ 1.14 billion. The average daily number of users who see an ad increased by 13 percent year-on-year to 211 million.

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