Indian-American, Parag Agrawal, has been named as the Chief Executive Officer (CEO) of social media giant, Twitter, following the resignation of Jack Dorsey on Monday, November 29, 2021.
Dorsey said his ‘tough’ decision to step down was partly due to his belief that the company was ready to move on from its founders.
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The 45-year-old billionaire noted in an email to the Twitter team that Parag was his choice as he ‘understands the company and its needs’.
Dorsey is making a clean break from the company and won’t stay on in any capacity when his term on the Board of Directors expires next year.
He said this is to give Parag the space he needs to lead the company that serves close to 400 million users.
“I believe it’s critical a company can stand on its own, free of its founder’s influence and direction,” he said in the email, a screenshot of which he posted on his Twitter account.
Parag, in his reply to Jack’s farewell message, expressed confidence that the company’s future strategy is ‘bold and right’, and will make Twitter the best for its customers.
“Let’s show the world Twitter’s full potential,” he ended his message.
The new CEO, a Stanford graduate, joined the company in 2011, and has served as Chief Technology Officer (CTO) since 2018.
