<p>In an email sent to Twitter staff today, <a href="https://www.hotnewhiphop.com/twitter-ceo-jack-dorsey-trolls-facebook-and-instagram-during-outage-news.140428.html" target="_blank" rel="nofollow noopener">CEO and company co-founder</a> Jack Dorsey announced his resignation from the company. </p>
<p>&#8220;After almost 16 years of having <a href="https://www.hotnewhiphop.com/jack-dorsey-is-eager-for-donda-to-drop-offers-release-strategy-news.137184.html" target="_blank" rel="nofollow noopener">a role</a> at our company&#8230;from co-founder to CEO to Chair to Exec Chair to interim-CEO to CEO&#8230;I decided it&#8217;s finally time for me to leave,&#8221; Dorsey wrote, before asking a simple question. </p>
<p>&#8220;Why?,&#8221; he asked himself.</p>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editor.urbanlinx.net/wp-content/uploads/userfiles/51/54/965451_1dfd8b5f7046e140df57bf5e25664bd4.jpg" alt="Jack Dorsey Steps Down As CEO Of Twitter"></figure>
<h6><em>Joe Raedle/Getty Images</em></h6>
<p>&#8220;There&#8217;s a lot of talk about the importance of a company being &#8216;founder-led,&#8221; he wrote. &#8220;Ultimately I believe that&#8217;s severely limiting and a single point of failure. I&#8217;ve worked hard to ensure this company can break away from its founding and founders. There are 3 reasons I believe now is the right time.&#8221; </p>
<p><a href="https://www.hotnewhiphop.com/jay-z-beyonc-and-jack-dorsey-spotted-hanging-at-beach-in-the-hamptons-news.134958.html" target="_blank" rel="nofollow noopener">Dorsey</a> goes on to explain that current Twitter CTO, Parag Agrawal, will take over as CEO and that Agrawal &#8220;has been behind every critical decision that helped turned [the] company around,&#8221; and that his trust in him as CEO is &#8220;bone deep.&#8221; Dorsey thanked Bret Taylor for becoming the company&#8217;s board chair, and finally took some time to acknowledge the hard work of the entire Twitter staff. </p>
<p>The <a href="https://www.hotnewhiphop.com/jay-z-and-jack-dorsey-link-up-for-new-bitcoin-future-news.126551.html" target="_blank" rel="nofollow noopener">former Twitter CEO</a> announced that Agrawal would assume his role immediately, and that he would stay on the company&#8217;s board until the end of his term around May, and after that, he will leave the company entirely. </p>
<p>In a final message to the Twitter staff, Dorsey explained how difficult this decision was for him, but that he knows it is the correct one. </p>
<p>&#8220;I want you all to know that this was my decision and I own it. It was a tough one for me, of course,&#8221; he wrote. &#8220;I love this service and company&#8230;and all of you so much. I&#8217;m really sad&#8230;yet really happy. There aren&#8217;t many companies that get to this level. And there aren&#8217;t many founders that chooses their company over their own ego. I know we&#8217;ll prove this is the right move.&#8221; </p>
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<p>While Dorsey was thorough in explaining why now is the correct time for him to step down, the question of what he will do next is open-ended. Two weeks ago, TIDAL <a href="https://www.hotnewhiphop.com/jay-z-finalizes-tidal-deal-with-jack-dorseys-square-inc-report-news.131126.html" target="_blank" rel="nofollow noopener">(which Dorsey&#8217;s company Square purchased Jay-Z&#8217;s majority stake in)</a> announced their new tier system, including <a href="https://www.hotnewhiphop.com/tidal-launches-free-tier-direct-artist-payouts-and-fan-centered-royalties-news.143096.html" target="_blank" rel="nofollow noopener">a free tier</a> and better payouts to artists. It will be interesting to see if, after leaving the Twitter board in May, if Dorsey goes all-in on TIDAL in an effort to compete with the Apple Musics and Spotifys of the world. </p>
<p>What do you think of Dorsey&#8217;s decision to step down as Twitter CEO? Let us know down in the comments. </p><br>