Twitter: Jack Dorsey to step down as CEO

Twitter announced on Monday that co-founder Jack Dorsey was stepping down immediately as CEO. The Board of Directors has unanimously appointed Parag Agrawal, the company’s Chief Technical Officer (CTO), as the new CEO and a member of the board, effective immediately.

Twitter’s stock, which has consistently underperformed the market, jumped more than 10 percent at the opening bell Monday.

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