City comment: Elon Musk’s Twitter takeover could herald return of Jack Dorsey

Who will run Twitter now that Elon Musk owns it?

It seems certain not to be current CEO Parag Agrawal after Musk said early in takeover talks that he didn’t “have confidence in management”.

Agrawal, who has been at Twitter for over a decade, has scarcely had time to arrange his corner office. He was only elevated to the top job last November after long-time CEO Jack Dorsey left under a cloud, following pressure from activist investor Elliott.

Agrawal’s statement in the sale announcement had the resigned air of someone who knows their card is marked: “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”

Not exactly pumped for the new challenge is it?

If Agrawal is for the chop, who might replace him? Don’t rule out the return of Dorsey.

The Twitter co-founder is close with Musk and fired off a series of approving tweets about the sale last night, saying: “Elon is the singular solution I trust.”

Musk came out to bat for Dorsey in 2020 when Elliott initially tried to push him out as Twitter CEO. The Tesla billionaire said Dorsey had a “good heart.”

The pair share a libertarian-inflected world view common in Silicon Valley that suggests they would work well together.

“I love Twitter. Twitter is the closest thing we have to a global consciousness,” Dorsey wrote last night. “The idea and service is all that matters to me, and I will do whatever it takes to protect both.”

Perhaps the prodigal tweeter could be due a return.