Jack Dorsey to step down as CEO of Twitter: "It's finally time for me to leave"

Jack Dorsey, who co-founded social media giant Twitter in 2006, is stepping down as CEO, the company said Monday. 

Dorsey, 45, will remain on Twitter's board of directors until next year. Chief technology officer Parag Agrawal, who joined Twitter in 2017, will replace Dorsey as the company's new CEO, effectively immediately.

In a tweet announcing his resignation Monday, Dorsey didn't discuss what lies ahead for his career, but said, "I decided it's time for me to finally leave."