On Monday, former Twitter founder Jack Dorsey announced that he is stepping down from his role as CEO, and would be immediately replaced by former Chief Technology Officer, Parag Agrawal.
In a public letter to employees, Dorsey listed three reasons he believes “now is the right time” to step down. The first reason was the elevation of Agrawal to CEO.
“The first is Parag becoming our CEO,” Dorsey explained. “The board ran a rigorous process considering all options and unanimously appointed Parag. He’s been my choice for some time given how deeply he understands the company and its needs. Parag has been behind every critical decision that helped turn this company around. He’s curious, probing, rational, creative, demanding, self-aware, and humble. He leads with heart and soul, and is someone I learn from daily. My trust in him as our CEO is bone deep.”
“Thank you, Jack. I’m honored and humbled,” responded Agrawal in his own letter, also shared on Twitter. “And I’m grateful for your continued mentorship and your friendship. I’m grateful for the service that you built, the culture, soul, and purpose you fostered among us, and for leading the company through really significant challenges. I’m grateful for the trust you’ve put in me and for your continued partnership.”
Agrawal continued to thank Twitter employees.
“Team, most of all, I’m grateful for all of you, and it’s you who inspire confidence in our future together. I joined this company 10 years ago when there were fewer than 1,000 employees. While it was a decade ago, those days feel like yesterday to me. I’ve walked in your shoes, I’ve seen the ups and downs, the challenges and obstacles, the wins and the mistakes. But then and now, above all else, I see Twitter’s incredible impact, our continued progress, and the exciting opportunities ahead of us,” Agrawal wrote. “Our purpose has never been more important. Our people and our culture are unlike anything in the world. There is no limit to what we can do together.”
Agrawal then referenced the “ambitious goals” he will now be tasked with hitting.
“We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right. But our critical challenge is how we work to execute against it and deliver results – that’s how we’ll make Twitter the best it can be for our customers, shareholders, and for each of you. I want you to #LoveWhereYouWork and also love how we work together for the greatest possible impact,” he stated. “I recognize that some of you know me well, some just a little, and some not at all. Let’s consider ourselves at the beginning – the first step towards our future. I’m sure you have lots of questions and there’s a lot for us to discuss. At the all-hands tomorrow we’ll have lots of time for Q&A and discussion. It will be the beginning of ongoing open, direct conversations I wish for us to have together.”
“The world is watching us right now, even more than they have before,” Agrawal concluded. “Lots of people are going to have lots of different views and opinions about today’s news. It is because they care about Twitter and our future, and it’s a signal that the work we do here matters. Let’s show the world Twitter’s full potential.”