Parag Agrawal to replace Jack Dorsey as Twitter CEO
The move is effective immediately, though Dorsey will stay on the board of the social media company until his term expires in 2022
Jack Dorsey, the co-founder and chief executive officer of Twitter Inc., is stepping down, ceding the position to the company's Chief Technology Officer Parag Agrawal.
The move is effective immediately, though Dorsey will stay on the board of the social media company until his term expires in 2022, Twitter said in a statement Monday.
"I've decided to leave Twitter because I believe the company is ready to move on from its founders," Dorsey said in the statement. "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."
Agarwal took to his Twitter account to share the news and expressed his gratitude to Dorsey and the team. "Deep gratitude for Jack Dorsey and our entire team, and so much excitement for the future. Here’s the note I sent to the company. Thank you all for your trust and support," he wrote.
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