Parag Agrawal, who is the present CTO and will take over the post as CEO and a member of the Board of Directors, effective immediately. Dorsey will be a member of the Board of Directors until his tenure expires at the stockholders’ meeting in 2022. Agrawal has worked at Twitter for over a decade, and was designated as the Chief Technology Officer in 2018.
While announcing his exit, Dorsey expressed confidence in Parag’s skills and ability. He said, “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”.
On taking over the huge responsibility as the new CEO of Twitter, Agrawal expressed hopes to progress the company. He said, “I look forward to building on everything we have accomplished under Jack’s leadership and I am incredibly energized by the opportunities ahead. By continuing to improve our execution, we will deliver tremendous value for our customers and shareholders as we reshape the future of public conversation.”
Dorsey was reinstated as CEO of the firm in 2015, despite being driven out of the position in 2008. Dorsey stated in a letter to staff that he will complete his tenure on the board of directors until “May-ish,” at which point he will resign from that role as well. Agrawal entered the firm in 2011 as an ads engineer and subsequently rose to the position of Chief Technology Officer in 2018. Along with Agrawal’s designation to the Board, the Company announced the appointment of Bret Taylor as Independent Chair of the Board, starting immediately. Taylor has been a member of the Twitter Board since 2016.
