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Jack Dorsey Expected To Step Down As Twitter CEO: Reports


Jack Dorsey Expected To Step Down As Twitter CEO: Reports

Dorsey, 45, co-founded the company in 2006, only to be forced out as CEO by the board in 2008. He returned to the position in 2015.

It’s unclear who his successor might be.

Twitter’s stock jumped more than 10% following news of Dorsey’s expected resignation, prompting a suspension in trading.

In April, Twitter reported having 199 million monetizable daily active users and raking in $1.04 billion in revenue.

Dorsey is also the CEO of the financial payments company Square, a potential source of conflict.

He has become a bitcoin aficionado in recent years, and has used his Twitter account to publicly tout the cryptocurrency. He announced in July that bitcoin would play a “big part” in Twitter’s future.

A Twitter spokesperson did not immediately respond to HuffPost’s request for comment, but Dorsey himself may have tipped his hat to some sort of development in a tweet sent early Sunday morning:

This is a developing story. Please check back for updates.

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