Jack Dorsey steps down as Twitter CEO, Indian Origin Parag Agrawal named his successor

Jack Dorsey, CEO of Twitter has stepped down from his position. Indian origin Parag Agrawal is slated to take up the mantle.

Twitter’s Board of Directors search has come to a conclusion with the selection of the internal candidate.

Parag Agrawal, who was previously the company’s CTO, has taken over as CEO with immediate effect, while Dorsey will continue on Twitter’s board of directors until his term expires in 2022, according to a statement released Monday.

Parag has played a key role at Twitter as CTO, supervising “Twitter’s technical strategy as well as machine learning and AI across the consumer, revenue, and science teams.”

Parag has been at Twitter since 2011 is apparently well-liked by Jack Dorsey, which is likely one of the factors that helped him land the top post.

Meanwhile, Twitter said that Parag is considered one of the top engineers within Twitter. He was once part of the company’s TAG group, which oversaw all the new products and technologies with the company.

In 2019, Jack Dorsey announced a new decentralised social media project called Bluesky and brought in Parag to supervise it.

As per reports, CEO Parag Agrawal will be given an annual compensation of $1 million as well as stock options worth $12.5 million.

Parag holds a PhD in computer science from Stanford University and a bachelor’s degree in computer science and engineering from the Indian Institute of Technology, Bombay.