Jack Dorsey Leaves Twitter's Board of Directors
The exit was expected, but it's the end of an era.
- Carrie has lived on both coasts and can definitively say that Chesapeake Bay blue crabs are the best.
Jack Dorsey, Twitter's co-founder, is backing Elon Musk's unsolicited takeover bid.
Jack Dorsey, the co-founder and former CEO of Twitter, is leaving the social network's board of directors on Wednesday. Dorsey's planned departure comes as his term on the board expires and as the company hosts its 2022 shareholders meeting.
In November, Dorsey stepped down as Twitter CEO, handing the role over to Parag Agrawal. Dorsey announced at the time he would remain on Twitter's board through the end of his term, which expired Wednesday, to help with the transition.
Dorsey's exit comes at a tumultuous time for Twitter. Last month, Telsa and SpaceX CEO Elon Musk reached a $44 billion deal to buy the social network. However, Musk has since said the deal is "on hold," until he gets proof that fewer than 5% of Twitter's 229 million daily users in the first quarter were fake or spam-focused. Twitter executives have pushed back against Musk's demand and signaled that the company plans to move forward with the acquisition.
On Wednesday, Twitter pointed back to its November statement about Dorsey.
"On behalf of the Board, I want to thank Jack for his visionary leadership and unrelenting dedication to Twitter since its founding," Bret Taylor, chair of the company's board, said in that statement.
Dorsey co-founded Twitter in 2006. He remains CEO of Square, the digital payments company he co-founded in 2009.