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Parag Agrawal appointed as Twitter’s CEO

Parag Agrawal

Twitter has decided to appoint Parag Agrawal as the company’s new CEO, succeeding Jack Dorsey.

The company said in a statement that Parag Agrawal, the company’s Chief Technology Officer, who has been working for it for 10 years, will take over Twitter.

Twitter CEO and co-founder Jack Dorsey announced his resignation on Monday evening.

“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders,” Dorsey said in a statement.

In a statement on Twitter on Monday, Mr Dorsey wrote, “Parag has been behind every critical decision that helped turn this company around. He’s curious, probing, rational, creative, demanding, self-aware and humble. My trust in him as our CEO is bone deep.”

Parag Agrawal, an Indian-American tech executive, is on the long list of Indian-born personalities driving global business.

Shortly after the announcement, Mr Agrawal tweeted a note, saying he was “excited for the future”.

“I’m honoured and humbled. And I’m grateful for your continued mentorship and friendship,” he wrote.

Parag has been with Twitter for the past decade, joining Twitter as a Distinguished Software Engineer and then CTO.

As Chief Technology Officer, Parag was responsible for “Twitter’s technical strategy and oversight of machine learning and artificial intelligence across the Consumer, Revenue, and Science teams.”

Prior to Twitter, Parag worked with Microsoft, Yahoo and AT&T.

Parag Agrawal studied Bachelor of Technology in Computer Science and Engineering at IIT Bombay, and completed his Ph.D. from Stanford University.

Parag was spearheading Bluesky’s Twitter effort to create a decentralized standard for social media.

Elliott Management Fund, a Twitter shareholder, sought to replace Jack Dorsey as CEO in 2020 before the investment firm reached an agreement with the company’s management.

Twitter’s stock jumped 12.5% ​​in pre-market trading immediately after a report about the resignation broadcast by CNBC, reducing losses by about 14% this year.

Over the past few years, Dorsey has suffered from major turmoil in the company he co-founded, according to Forbes.

Dorsey has also faced a backlash for his reluctance to censor users, especially controversial public figures such as former US President Donald Trump.

Currently, the number of Twitter users is 211 million per day, and these are potential revenue sources for companies that place ads on the platform.

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