Jack Dorsey following his resignation as Twitter CEO, has cited the potential pitfalls of companies whose founders retain their leadership position for too long.
According to Jack, the importance of being a company that is founder led cannot be underestimated, but can also be terribly limiting and serve as a single point for failure.
In line with his resignation, lots of speculations have brewed up, with the most recent being the major shakeup with Elliot Management [ a Twitter stakeholder and hedge fund managed by Paul Singer ]. Many believed the company is the brain behind the resignation of Jack.
Jack Dorsey countering the claims, said he quit as CEO of Twitter to enable him function fully in his billion dollar payment company ” Square Inc ” which he founded in 2009.
Parag Agrawal has since been named as the new Twitter CEO and is currently facing backlash from social media users over racist comment he made years ago.