Twitter: CEO Jack Dorsey resigns, CTO Parag Agarwal takes place
Twitter's CEO Jack Dorsey has resigned from his duties and the charge has been taken by CTO Parag Agarwal.
Twitter CEO Jack Dorsey has resigned from his role and the company's CTO Parag Agarwal has been unanimously chosen by the board as his successor. A source told Reuters that the company's board has been preparing for Dorsey's departure since last year. The news comes as Twitter has accelerated its product innovation over the past year to compete with social media rivals such as Facebook and TikTok and reach its goal of doubling annual revenue by 2023.
Jack Dorsey's Statement
Dorsey took to twitter and explained his reasons for stepping down as CEO of Twitter after 16 years, and why Agarwal was fit to lead the company Dorsey co-founded in 2006. Dorsey said, "I have decided to leave Twitter because I believe the company is ready to move on from its founders. I have deep faith in Parag as CEO of Twitter. His work over the past 10 years has been transformative. I am deeply grateful for his skill, heart and soul. It is time for him to lead."
not sure anyone has heard but,
— jack⚡️ (@jack) November 29, 2021
I resigned from Twitter pic.twitter.com/G5tUkSSxkl
In his statement, Dorsey said, "He's been my choice for some time given how deeply he understands the company and its needs. Parag has been behind every critical decision that helped turn this company around. He's curious, probing, rational, creative, demanding, self-aware and Humble. He leads with heart and soul and is someone I learn from daily. My trust in him as CEO is bone-deep."
Who is Parag Agarwal?
Parag Agarwal is a former student of IIT Bombay. He joined Twitter in 2011 and with his hard work and dedication he became the Chief Technology Officer (CTO) by 2018. He is also an alumnus of Stanford University where he studied Computer Science and earned a PhD in Philosophy. He has also provided his services to companies like Microsoft and AT&T.
