Twitter CEO Jack Dorsey steps down, with CTO Parag Agrawal replacing him

The co-founder of Twitter has announced that he has resigned as CEO of the social network, with the company's Chief Technical Office Parag Agrawal replacing him.

Announced via (what else but) a tweet, Dorsey said the following:

"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 also stated that he will remain on the board through the rest of his term until around May in order to help both Agrawal and incoming Chairman of the Board Bret Taylor transition into their new leadership roles. Outside of these announcements, no further leadership changes or feature adjustments have been announced for Twitter.

Further coverage: Twitter