Parag Agarwal joined Twitter in 2011 and was promoted to Chief Technology Officer in 2017. The executive of Indian ancestry is a graduate of the Indian Institute of Technology in Bombay. Twitter Chief Executive Officer Jack Dorsey has resigned from his position, and business CTO Parag Agarwal has been unanimously chosen by the board of directors to take over as his replacement. According to a Reuters source, the company’s board of directors has been preparing for Dorsey’s departure since last year. The announcement comes at a time when Twitter has boosted the pace of products created over the past year to compete with social media rivals such as Facebook and TikTok, as well as to achieve its objective of tripling annual revenue by 2023.

Twitter's CEO Jack Dorsey leaves
Twitter’s CEO Jack Dorsey leaves

Dorsey also took to Twitter to explain his decision to stand down as CEO of Twitter after 16 years in the role, as well as why Agarwal was the best person to run the business he co-founded in 2006.

Twitter is ready to move on from its founders, in my opinion, and I have decided to leave the company. My confidence in Parag as the CEO of Twitter is unwavering. His work over the past ten years has had a transformative effect on the world. I’m eternally grateful to him for his talent, passion, and soul.