Jack Dorsey steps down from Twitter Board amid Elon Musk’s takeover deal

Amid Elon Musk’s $44 billion acquisition deal of Twitter, the former CEO of the social media giant, Jack Dorsey has stepped down from the Twitter Board.

Dorsey, who is also the Co-founder of Twitter, had stepped down as its CEO in November 2021. At that time, Dorsey had tweeted, “There’s a lot of talk about the importance of a company being ‘founder-led’. Ultimately I believe that’s severely limiting and a single point of failure. I’ve worked hard to ensure this company can break away from its founding and founders.”

He had cited three reasons why it was the right time to leave, the first reason being the appointment of Indian-origin Parag Agrawal as the new Twitter CEO. “My trust in him as our CEO is bone deep,” Dorsey had tweeted.

After stepping down as the CEO, Dorsey continued as a Board member, the term of which ended on May 25, 2022. He decided not to stand for re-election as a Board member at Twitter’s annual board meeting.

Twitter was co-founded by Jack Dorsey, Ev Williams, Biz Stone and Noah Glass in 2006. Dorsey had two stints as the Twitter CEO, first from inception till 2008, and the second stint was from 2015 to November 2021. He is also the CEO of Square.