Twitter will look a bit different on the inside from now on. Co-founder and former CEO of Twitter, Jack Dorsey has stepped down from the company’s board of directors.
Dorsey has gradually begun to distance himself from Twitter after stepping down as CEO last year to focus on Block, formerly Square. TechCrunch states since Dorsey stepped down, it’s been noted that he will stay on the board “until his term expires at the 2022 meeting of stockholders.”
While Dorsey has been involved with Twitter since its 2006 founding, this announcement marks the end of his 16-year tenure. The change comes as Elon Musk is set to buy and take the company private after a $44 billion deal.
However, Elon Musk was barely mentioned at the board meeting today. While progress is still being made on the deal, it was surely a topic on everyone’s minds.
Musk will not take over Dorsey’s spot on the board, as tweeted by CEO Parag Agrawal. While Musk has declined an offer to join, the company still wants his input as he’s Twitter’s biggest shareholder. The billionaire also recently tweeted he’s spending less than 5% of his time on the acquisition, but who knows what ideas he’ll bring to the platform.
FTC: We use income earning auto affiliate links. More.
