CEO Dorsey will be replaced by Twitter’s chief technology officer Parag Agrawal.

“I have decided to leave Twitter because I believe the company is willing to sever ties with its founders,” Dorsey said in a statement. “Very sad but very happy,” Dorsey added on Twitter.

Agrawal works for Twitter For more than 10 years as an IT engineering specialist, he has played an important role in the company’s implementation of AI solutions.

Monday morning reports CNBC It led to a 5% increase in the value of Twitter’s shares, and prices were subsequently suspended pending confirmation of Dorsey’s departure.

Dorsey, 45, was president of both Twitter and the digital payment company Square. He has been criticized several times for driving two companies and not paying enough attention to Twitter itself.

Dorsey, the creator of the digital giant, served as CEO (CEO) from 2007 to 2008 and then returned to that position in 2015.

In 2013, when Twitter entered the stock exchange, Dorsey He became a billionaire according to the magazine “Forbes” The government’s fortune is now $11.8 billion, according to AFP.

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