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Home » Tech » Jack Dorsey Steps Down As Twitter CEO, CTO Parag Agrawal To Be His Successor

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Jack Dorsey Steps Down As Twitter CEO, CTO Parag Agrawal To Be His Successor

The company’s board unanimously appointed CTO Parag Agrawal as his successor.

In a tweet Dorsey said " not sure anyone has heard but, I resigned from Twitter" along with a note. (Photo: ANI)

New Delhi: Twitter co-founder and CEO Jack Dorsey has stepped down from his role and the company’s Indian American CTO Parag Agrawal will be his successor. 

In a statement issued by Dorsey  he said “I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep,” said in a statement.

The company’s board unanimously appointed CTO Parag Agrawal as his successor.

This comes as Twitter has accelerated the pace of its product innovation over the past year. The company is looking to compete with social media rivals including Facebook Inc and TikTok, and to reach its goal of doubling annual revenue by 2023.

In a tweet Dorsey said ” not sure anyone has heard but, I resigned from Twitter” along with a note.

“Deep gratitude for Jack and our entire team, and so much excitement for the future,” Agrawal, an IIT-Bombay alumnus, said in a tweet along with a note.

Parag Agrawal is an alumni of IIT Bombay. Shares of the microblogging platform increased by 9% in early trading, while those of digital payments firm Square Inc, of which Dorsey is also chief executive, were up 3%. Trading in the shares was suspended ahead of the expected announcement.

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