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Parag Agrawal, an alumnus of IIT-Bombay, will replace Twitter's ongoing CEO Jack Dorsey and step up as the new Chief Executive Officer (CEO) of the company. The statement was announced on Monday by Dorsey on the same microblogging site.
Photo Credit: https://sfelc.com/
The statement added that Dorsey's stepping down and Agrawal's new post will be effective immediately, though the outgoing CEO will stay on the board of the company till the end of his term next year.
"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. I'm deeply grateful for his skill, heart, and soul. It's his time to lead," Dorsey said.
Agrawal was the Chief Technology Officer before stepping for the role of the CEO and was responsible for the company's technical strategy. He has joined Twitter ten years back in 2011 as an Ads Engineer, and since then, led efforts on scaling Twitter Ads systems and deploying a platform for online machine learning, and re-accelerating user growth.
His earlier works involved large-scale data management with collaborators at Yahoo! Research, Microsoft Research and AT&T Labs. Agrawal also holds a PhD in Computer Science from Stanford University.
With Agrawal joining Twitter as a CEO, he has come under the list of Indian-American tech bosses such as current IBM chairman and CEO Arvind Krishna, Google and Alphabet CEO Sundar Pichai, Microsoft chairman and CEO Satya Nadella and Adobe chairman, president and CEO Shantanu Narayen.
Reports say that when Dorsey was CEO, Twitter has been held in many controversies across key markets areas, including India. When he had visited India in November 2018, just months after his visit, Dorsey was summoned by Parliamentarians to have a discussion and get his views on "safeguarding citizens' rights on online news media platforms".
Dorsey co-founded Twitter in 2006 and was the CEO till 2008 until he was pushed out of his role during that time. He then returned to the company in the executive in 2015 after the resignation of the former CEO Dick Costolo.
The news of Agrawal joining Twitter as a CEO has also caused a spike in Twitter's stock by more than 10 per cent on the US exchanges.
The appointment for the company's CEO has come for Agrawal at a time when Twitter was aggressively pushing for growth. Earlier this year, the firm announced its aim to have 315 million monetisable daily active users by the end of 2023 and to at least double its annual revenue by then.
In an internal mail to Dorsey and Twitter employees, Agrawal wrote: "We recently updated our strategy to hit ambitious goals, and I believe the strategy to be bold and right. But our critical challenge is how we work to execute against it and deliver results".
On Twitter, he posted a copy of his mail.
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