PARAG AGRAWAL BECOMES NEW CEO OF TWITTER AS JACK DORSEY STEP DOWN

Mon 29 November 2021:

Twitter announced on Monday that Parag Agrawal, the company’s chief technology officer, will succeed Jack Dorsey as CEO.

“Twitter, Inc. (NYSE: TWTR) 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.

not sure anyone has heard but,

I resigned from Twitter pic.twitter.com/G5tUkSSxkl

— jack⚡️ (@jack) November 29, 2021

Dorsey said that the decision was his alone and that now was the right time for him to step away.

“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. 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,” Mr Dorsey said.

Dorsey will remain a member of the Board until his term expires at the 2022 meeting of stockholders,” the statement said.

Agrawal has been with the company for more than a decade and has served as CTO since 2017, Twitter added.

Critics of Dorsey have long been sceptical about his dual roles as CEO of both Twitter and payment-processing company, Square, saying he could not effectively manage both billion dollar companies.

Shares in Twitter soared 11 per cent as news that Dorsey was stepping down from Twitter broke.

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