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Jack Dorsey steps down as Twitter CEO, company CTO Parag Agrawal to succeed
Twitter said that the board of directors unanimously approved the appointment of Parag Agrawal as CEO and a member of the board with immediate effect.
Twitter on Monday announced that the company's chief technical officer Parag Agrawal will be replacing co-founder Jack Dorsey as CEO. The social media giant said in a statement that the board of directors unanimously approved the appointment of Parag Agrawal as CEO and as a member of the board with immediate effect.
"Twitter, Inc. today announced that Jack Dorsey has decided to step down as chief executive officer and that the Board of Directors has unanimously appointed Parag Agrawal as CEO and a member of the board, effective immediately," the statement read.
After the official announcement, Agrawal took to Twitter to express gratitude to Dorsey and the entire team. The newly-appointed CEO also shared the note he sent to Dorsey and the company in which he highlighted the recently updated Twitter's strategy to hit "ambitious goals".
"The world is watching us right now, even more than they have before. Lots of people are going to have lots of different views and opinions about today's news. It is because they care about Twitter and our future, and it's a signal that the work we do here matters. Let's show the world Twitter's full potential," Agrawal wrote.
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Jack Dorsey informed the company in an e-mail he shared on Twitter that he'll serve on the board through his term ending around May in order to help Agrawal with the transition. The Twitter co-founder said he won't stay on the board by becoming chairperson as he believes it is "really important" to give Agrawal the space he needs to lead.
"I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company...and all of you so much. I'm really sad...yet really happy," he wrote.
(With agency inputs)
