Jack Dorsey is reportedly stepping down as CEO of Twitter “in the near term,” according to “a number of different people familiar with the situation” via CNBC.
Dorsey, who is 45 years old, currently acts as the CEO of both Twitter and Square.
It is unknown who will take Dorsey’s place as Twitter’s CEO or the exact timing of his potential departure. However, Dorsey’s successor will need to meet Twitter’s ambitions goals, which entail reaching 315 million monetizable daily active users by the end of 2023 and doubling the company’s annual revenue that year.
Prior to his current stint as CEO, Dorsey briefly held the position in 2007, shortly after founding the social media giant and before being forced out in 2008.
Last year, Elliott Management, a large investor in the company, attempted to force Dorsey out of the role, citing concerns with his ability to act as CEO for both Twitter and Square simultaneously. The investment firm then reached a deal with the company allowing Dorsey to remain as CEO, though it was announced that a board committee would be created to “evaluate the CEO succession plan.”
Stay tuned for more information.
Elsewhere, Apple’s iPhone 13 has reportedly sold more units than its record-breaking predecessor.
