Monday, 17 January, 2022
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Twitter’s Parag Agrawal joins club of Indian-origin execs at global giants

Twitter’s Parag Agrawal joins club of Indian-origin execs at global giants

NEW YORK: With his elevation as the CEO of Twitter, Parag Agrawal, in whom co-founder of the microblogging giant Jack Dorsey has bone-deep trust, joins the growing power club of Indian-origin executives helming US-based global multinationals.

Twitter’s outgoing CEO Dorsey announced on Monday that 37-year old Agrawal, an IIT Mumbai and Stanford University alumnus, will be the company’s new chief executive as he stepped down after 16 years at the company that he co-founded and helmed, report agencies.

A report in The New York Times said Agrawal will receive an annual salary of $1 million, in addition to bonuses, restricted stock units and performance-based stock units.

After almost 16 years of having a role at our company...from co-founder to CEO to Chair to Exec Chair to interim-CEO to CEO...I decided it’s finally time for me to leave. Why?

There’s a lot of talk about the importance of a company being ‘founder-led.’ Ultimately I believe that’s severely limiting and a single point of failure. I’ve worked hard to ensure this company can break away from its founding and founders. There are 3 reasons I believe now is the right time.

The first is Parag becoming our CEO. 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.

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, Dorsey said.