Twitter CEO Jack Dorsey has stepped down – with immediate effect. The current technology director of Parag Agrawal took the helm.
–
Twitter runs a social network of the same name, and its shares have strengthened by about five percent in response to the news.
–
The CNBC server was the first to receive information about the planned exchange, but it did not state a time horizon or a successor.
–
Dorsey headed Twitter, as well as Square’s digital payments company, which bothered some shareholders. Elliott Management, for example, sought to replace Dorsey as CEO last year. But then she agreed with the company’s management.
–
Elliott Management founder Paul Singer questioned whether Dorsey should run the two publicly traded companies and urged him to step down as CEO of one of them.
–
From his new position, Dorsey’s successor, Agrawal, will have to meet the company’s demanding internal goals. Earlier this year, Twitter said it wanted 315 million daily users to see the ad by the end of 2023. It wants to double sales, at least $ 7.5 billion (CZK 170.5 billion).
–
Twitter lost ground in the third quarter due to the extraordinary costs of settling the lawsuit. However, sales increased due to interest in advertising sales worldwide.
–
The company’s loss from July to September was $ 536.8 million, compared to a profit of $ 28.7 million in the same period last year. Sales rose 37 percent to $ 1.28 billion. Of this, advertising revenue was $ 1.14 billion. The average daily number of users who see an ad increased by 13 percent year-on-year to 211 million.
— .
