Parag Agrawal, an IIT Bombay alumnus and chief technology officer of Twitter will take over as CEO of the social media platform immediately following the departure of its co-founder CEO Jack Dorsey. Yet another major global tech company will be headed by an executive of Indian-origin.
Dorsey himself confirmed the transition after hours of ragin speculation that he was being ousted by the Twitter board.
“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. 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,” he said in a message to Twitter staff.
“IIT Bombay alumnus 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,” he added.
Agrawal, who graduated from IIT Mumbai before earning a PhD in Computer Science from Stanford University, has worked in Microsoft, Yahoo, and AT&T labs before joining Twitter in 2011. With his elevation as CEO, more than half dozen global tech majors now have Indian-Americans at the helm, including Google’s Sundar Pichai, Microsoft’s Satya Nadella, IBM’s Arving Krishna, and Adobe Shantanu Narayen.
Dorsey heartily endorsed Agrawal in a farewell message to Twitter staff which also explained his exit. “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,” he explained.