Shares of Twitter, Inc. (TWTR) dropped 2.74% on November 29 to close at $45.78 after the social media giant announced that its CEO, Jack Dorsey, is stepping down. Dorsey will be replaced by the current Chief Technology Officer (CTO) Parag Agrawal, effective immediately. Dorsey, who was serving as both the CEO of Twitter and Square (SQ), will continue to be a member of the Board till his term expires in 2022. Dorsey commented, “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.
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