He announced his resignation in a statement on Monday, after 16 years of co-founding Twitter.

“After almost 16 years of having a role at our company, from co-founder to CEO to chair to Exec chair to interim-CEO to CEO…I decided it’s finally time for me to leave. Why? There is a lot of talk about the importance of a company being “founder-led.” Ultimately I believe that’s severely limiting and a single point of failure. I have worked hard to ensure that this company can break away from its founding and founders,” Dorsey said in a mail.

“I resigned from Twitter,” he wrote.