Twitter Inc (NYSE: TWTR) surprised its investors when it announced that its CEO, Jack Dorsey, would be stepping down. However, sources have reported that the company’s plan to replace Dorsey has been underway since 2020.
Other than Parag Agrawal, the company’s board had considered other options to replace Dorsey when he stepped down as CEO. Dorsey himself personally approved of Agrawal as he understood how the company worked.
Many people have speculated that Dorsey stepped down from his role due to pressure from Elliott Management Corp, who thought it was unrealistic for Dorsey to lead two different prominent companies as the CEO. Dorsey is also the CEO of Square Inc (NYSE: SQ)
Despite the speculations, others have pointed out that Elliot Management let Dorsey keep his seat after agreeing with Twitter. Despite the arrangement, the board seemed to have begun searching for a replacement for the CEO soon after.
Agrawal has already made significant changes to the company
Agrawal has already made significant changes to Twitter’s structure. He has organized the commonly into three pillars, that is, Core Tech, Revenue, and Consumer. Moreover, he has appointed a general manager to lead each of these pillars. Agrawal states that Twitters’ previous structure slowed down business operations and seems to be placing a lot of focus on speed. He adds that the company has continuously disappointed shareholders since going public. Moreover, it hasn’t quickly responded to consumers’ emerging needs.
Meanwhile, the company is testing a new method for users to report tweets. The new method will not give a list of rules the users think were violated. Instead, it will ask about the incident for better information. In this way, the platform can better decide how to deal with the issue.
Twitter has acquired Quill
In other news, Twitter has acquired Quill to optimize its messaging service, such as direct messaging. Twitters’ goal is to make these services more expressive and valuable for the people using them. Quill has structured channels that make conversations better focused.
While Quill will close, its team will be part of Twitter. Quill has given its users instruction on exporting their message histories to Twitter. It will shut down its servers and delete data on December 11. The company will also offer refunds to its active customers.
