Continuing the global trend, the Indian origin Parag Agarwal has been appointed the new CEO of Twitter with its maverick founder Jack Dorsey calling it quits. This has added to the list of global technology companies Google, Microsoft, Adobe, IBM, Palo Alto Networks being headed by the Indians. Dorsey ended the long-standing speculation about him as @Jack, Dorsey's handle for 18 years, suddenly said on Monday: "not sure anyone has heard but," and attached a one-page version of why he is quitting and who succeeds him.
Indian-American Parag Agarwal, Twitter @paraga, is the new CEO, with immediate effect, Dorsey announced.
Agarwal who has with Twitter for 10 years is from Kendriya Vidyalaya, Mumbai, and IIT Mumbai. He did his doctoral degree from Stanford.
Dorsey's note attacked the concept of "founder-led". The construct sets companies up for failure, he said.
Dorsey, 45, was serving as both the CEO of Twitter and Square, his digital payments company. He will remain a member of the Board until his term expires at the 2022 meeting of stockholders.
"I've decided to leave Twitter because I believe the company is ready to move on from its founders," Dorsey said.
"Deep gratitude for @jack and our entire team, and so much excitement for the future," Agarwal said in a quote-tweet of Dorsey, with a short acceptance note attached, a #oneteam tag and a heart emoji in blue.
Deep gratitude for @jack and our entire team, and so much excitement for the future. Here’s the note I sent to the company. Thank you all for your trust and support 💙 https://t.co/eNatG1dqH6 pic.twitter.com/liJmTbpYs1— Parag Agrawal (@paraga) November 29, 2021
Agrawal, CTO since 2017, has a big task ahead: he will have to drive Twitter's stated goal of monetisation for one - 315 million monetisable daily active users by the end of 2023 and doubling of annual revenue.
Agrawal's specialisation is strategy involving artificial intelligence and machine learning.
During his studying at Stanford, Agarwal worked as a research intern for Microsoft, Yahoo!, and AT&T Labs.
After Agarwal joined Twitter as an ads engineer and remained on this position from from October 2011 to October 2017.
His early work as CTO was dedicated to increasing the relevance of tweets in Twitter timelines through the use of artificial intelligence.