1. Home
2. Technology

Twitter CEO Jack Dorsey Said to Step Down, Successor Lined Up

YB WEB DESK. Dated: 12/1/2021 3:43:58 PM

Twitter Chief Executive Officer Jack Dorsey will step down from his role and a successor has been lined up, a person familiar with the matter told Reuters. The company's board has been preparing for Dorsey's departure since last year, the source said. The news comes as Twitter has accelerated the pace of its product innovation over the past year to compete with social media rivals such as Facebook and TikTok, and to reach its goal of doubling annual revenue by 2023. Twitter was not immediately available for comment. Shares of the microblogging platform surged 9 percent in early trading, while those of digital p a y - ments firm Square, of which Dorsey is also chief executive, were up 3 percent. Trading in the shares was then suspended ahead of an expected announcement.