Jack Dorsey steps down as Twitter's CEO, IIT-Bombay alumnus Parag Agrawal replaces him


On November 29, co-founder of Twitter, Jack Dorsey, announced his resignation. He stepped down from the position with immediate effect. Twitter’s chief technology officer, Parag Agrawal, has taken over as the CEO of the social media platform. In a statement, Jack informed the world about his decision.

"I've decided to leave Twitter because I believe the company is ready to move on from its founders. The board ran a rigorous process considering all options and unanimously appointed Parag. He's been my choice for some time given how deeply he understands the company and its needs," Jack wrote. 

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He added, "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 our CEO is bone-deep."

Jack was serving as the CEO of Twitter as well as Square, his digital payments company. He is expected to remain a member of the board until his term expires at the 2022 meeting of stockholders. Salesforce President and COO Bret Taylor will become the chairman of the board. 

Parag, an IITian from Mumbai, joined Twitter in 2011 and has served as Chief Technology Officer (CTO) since October 2017. He did his doctorate from Stanford and briefly worked at Microsoft, AT&T and Yahoo before Twitter. 

(Source: Twitter)