Parag Agrawal takes over as Twitter CEO as Jack Dorsey resigns

Twitter co-founder Jack Dorsey will step down as CEO with immediate effect and hand over the reins to former CTO Parag Agrawal.

Jack Dorsey has announced that he will step down as CEO of Twitter with immediate effect.

He will remain a member of the board until his term expires in 2022, after which he plans to end his 15-year journey with the company.

The Twitter board of directors has appointed Parag Agrawal as CEO and member of the board. Agrawal has worked at Twitter for over a decade and has been CTO since 2017.

“I decided to leave Twitter because I think the company is ready to leave its founders behind. My trust in Parag as CEO of Twitter runs deep. His work for the last 10 years has been transformative. I am deeply grateful for your skill, heart and soul. It’s his time to lead, ”said Dorsey.

Dorsey co-founded Twitter in 2006, serving as CEO from 2007 to 2008. He returned as CEO in 2015 after the resignation of Dick Costolo. He shared his latest decision to quit Twitter.

Agrawal said: “I want to thank the board for their confidence in my leadership and Jack for his continued mentorship, support and collaboration. I look forward to building on all that we have accomplished under Jack’s leadership and am incredibly energized by the opportunities that lie ahead. If we continue to improve our execution, we will deliver tremendous value to our customers and shareholders as we restructure the future of the public conversation. “

Agrawal first joined Twitter in 2011 with a doctorate in computer science from Stanford University. He was an influential engineer in the company and, in his role as CTO, worked to advance the state of machine learning across the company.

In addition to the CEO change, Twitter appointed Bret Taylor as independent chairman of the board, effective immediately. Taylor has been a member of the board since 2016 and is President and COO of Salesforce. He replaces Patrick Pichette, who will remain a member of the board and chair of the audit committee.

“Jack went back to Twitter and changed the company at the most critical moment. The progress since then has been incredible, ”said Taylor. “Jack has given the world something invaluable and we will continue to carry it forward.”

Taylor added that Agrawal was instrumental in addressing Twitter’s important priorities when he was CTO. “I know he will start working to strengthen execution and get results,” he said.

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