Twitter CEO Jack Dorsey steps down, avoiding following in Bill Gates' footsteps
Jack Dorsey will take on an advisory role and leave Twitter entirely from next year, contrary to what Bill Gates has done at Microsoft in the past.
Recently, the founder and CEO of Twitter has decided to resign. Dorsey's replacement is Parag Agrawal, Twitter’s CFO.
"Why not stay or become chairman? I believe it's really important to give Parag his own space to unleash his creativity, leading the company to new success.
A company can be able to develop in the long run only when it can stand on its own without the founder’s opinion,” emphasized Dorsey.
Even so, the Twitter founder will remain at the company and serve as an advisor to help the new CEO in the transition before leaving completely next year. Jack Dorsey's decision is in stark contrast to another famous CEO, billionaire Bill Gates.
Gates made Harvard friend Steve Ballmer the 30th employee of Microsoft in 1980. Since then, Ballmer has steadily risen from manager to president in the late 1990s. When Ballmer was selected as the new CEO, Bill Gates decided to continue to hold the role of Microsoft president and serve as "chief software architect".
Although the two had known and worked together for more than 30 years, the fact that Gates remained at the company when stepping down as CEO caused a strain in his relationship with Ballmer. This is what made Ballmer's working environment difficult.
"Bill and I were trying to figure out what he really meant in asking me to be the new CEO, but he wanted to stay and work for me as ‘chief software architect’. I never felt like a true CEO until he left completely," Ballmer told Business Insider in 2017.
In 2013, Microsoft finally acquired Nokia's mobile phone business. Even so, just a few years later, the company recorded a net loss of $8.4 billion, the largest quarterly loss in history.
Analysts said the main reason comes from the acquisition of Nokia's business segment. Then, billionaire Bill Gates had to publicly state that not getting into the phone business sooner was one of his biggest mistakes.
When Ballmer officially left Microsoft in 2016, he once answered in an interview that he and Bill Gates no longer had any connection.
In March 2020, Bill Gates officially stepped down from the Microsoft board and currently does not hold any official role at the company he founded, but he said that this decision does not mean that he has completely withdrawn from Microsoft.
H/T: Fortune
Recently, the founder and CEO of Twitter has decided to resign. Dorsey's replacement is Parag Agrawal, Twitter’s CFO.
Dorsey stepping down
Dorsey also emphasized the importance of completely leaving Twitter, thereby no longer keeping any connection with the company he founded, according to Fortune."Why not stay or become chairman? I believe it's really important to give Parag his own space to unleash his creativity, leading the company to new success.
A company can be able to develop in the long run only when it can stand on its own without the founder’s opinion,” emphasized Dorsey.
Source: The Times of Truth
Even so, the Twitter founder will remain at the company and serve as an advisor to help the new CEO in the transition before leaving completely next year. Jack Dorsey's decision is in stark contrast to another famous CEO, billionaire Bill Gates.
Gates’ mistakes
After leaving Harvard to found Microsoft in 1975, Bill Gates was heavily involved in every aspect, from developing the first computer operating system called Microsoft to taking the company public. In 2000, he stepped down as CEO of this trillion-dollar company.Gates made Harvard friend Steve Ballmer the 30th employee of Microsoft in 1980. Since then, Ballmer has steadily risen from manager to president in the late 1990s. When Ballmer was selected as the new CEO, Bill Gates decided to continue to hold the role of Microsoft president and serve as "chief software architect".
Although the two had known and worked together for more than 30 years, the fact that Gates remained at the company when stepping down as CEO caused a strain in his relationship with Ballmer. This is what made Ballmer's working environment difficult.
"Bill and I were trying to figure out what he really meant in asking me to be the new CEO, but he wanted to stay and work for me as ‘chief software architect’. I never felt like a true CEO until he left completely," Ballmer told Business Insider in 2017.
Serious Consequences
Source: Market Realist
In 2013, Microsoft finally acquired Nokia's mobile phone business. Even so, just a few years later, the company recorded a net loss of $8.4 billion, the largest quarterly loss in history.
Analysts said the main reason comes from the acquisition of Nokia's business segment. Then, billionaire Bill Gates had to publicly state that not getting into the phone business sooner was one of his biggest mistakes.
When Ballmer officially left Microsoft in 2016, he once answered in an interview that he and Bill Gates no longer had any connection.
In March 2020, Bill Gates officially stepped down from the Microsoft board and currently does not hold any official role at the company he founded, but he said that this decision does not mean that he has completely withdrawn from Microsoft.
The bottom line
By contrast, Dorsey made it clear that leaving Twitter entirely is the move the company needs to thrive and also make Agrawal more successful. "Agrawal leads the company with all his heart and soul, and is someone I learn from every day. I have absolute confidence in the new CEO of Twitter," emphasized founder Jack Dorsey.H/T: Fortune
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