Dorsey will remain on Twitter’s board of directors until his term expires at the 2022 annual meeting, the company said in a statement.
Bret Taylor, who’s been a member of the Twitter board since 2016, will take over as chairman of the board.
“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep.
His work over the past 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” Dorsey said.
Agrawal has been with Twitter for more than a decade and has served as chief technology officer since 2017.