Social Media Reacts To Jack Dorsey Quitting As Twitter CEO With Jokes, Cries For An Edit Button

Social Media Reacts To Jack Dorsey Quitting As CEO Of Twitter

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  • Twitter CEO Jack Dorsey is expected to step down from his role as both the CEO of Twitter and Square.
  • The 45-year-old co-founder of Twitter Inc. was previously forced out as CEO of Twitter in 2008 before returning to the role in 2015.
  • More social media news here.

A Monday morning report by CNBC claims that Twitter co-founder and CEO Jack Dorsey will be stepping down from his position with the company.

The report, despite no actual confirmation, is being taken very seriously by the media as well as investors with the news being echoed by CNN, Bloomberg, and Reuters.

Shares of Twitter immediately jumped up as much as 10% in pre-market trading Monday upon the release of the news before trading was halted due to the news about Dorsey, who currently serves as both the CEO of Twitter and Square, being considered pending.

Related: Twitter CEO Jack Dorsey Plays Himself With ‘Helpful’ Tweet About Chronological Order Hack

…the next CEO will have to meet Twitter’s aggressive internal goals. The company said earlier this year it aims to have 315 million monetizable daily active users by the end of 2023 and to at least double its annual revenue in that year.

Dorsey faced an ousting last year when Twitter stakeholder Elliott Management had sought to replace Jack Dorsey as CEO. Elliott Management founder and billionaire investor Paul Singer had wondered whether Dorsey should run both of the public companies, calling for him to step down as CEO of one of them, before the investment firm reached a deal with the company’s management.

According to Reuters, the 45-year-old Dorsey and the board of Twitter have already decided on his successor, but did not reveal who that person will be.

A source near the situation also told Reuters that the company’s board has been preparing for Dorsey’s departure since last year.

Dorsey’s most recent tweet, posted on Sunday, simply reads, “I love Twitter.”

Reactions on social media, and in particular, on Twitter to the news about Jack Dorsey stepping down as CEO of the company he co-founded were the usual mix of jokes and criticism. Mostly jokes, though.

Even NFL star Ndamukong Suh got in on the action.

Really though, it was all about getting an edit button.