SAN FRANCISCO — Jack Dorsey plans to step down as CEO of Twitter, the social media site he co-founded in 2006, two people familiar with his thinking said. His departure comes a year and a half after Mr. Dorsey survived an attempt to be robbed of the activist investor. Elliott Management.
A person familiar with the situation said he could announce Mr Dorsey’s departure as soon as Monday. The source requested anonymity as the plans were first reported by CNBC, not yet open to the public. A Twitter spokesperson did not respond to a request for comment.
Mr. Dorsey, who is also the CEO of payments company Square, was fired from his top job at Twitter in 2008, but returned in 2015.
His leadership has been questioned by employees and investors who believe he is unfocused and spends most of his time on Square and other passion projects. Other employees rallied around him, using the hashtag #WeBackJack as a rallying call, in an attempt to force him to come out in 2020.
This is a developing story. Check back for updates.