Who is Parag Agrawal?

Highlights

• Parag Agrawal is appointed as the new CEO of Twitter, succeeding Jack Dorsey.
• Agrawal completed his bachelor’s degree from IIT-Bombay and PhD from Stanford University in Computer Science.
• He has been with Twitter since 2011.

Parag Agrawal has been appointed as the new CEO of Twitter Inc (NYSE: TWTR), succeeding Jack Dorsey, who resigned from the role on his own accord, the company said on Monday.

Parag’s appointment comes with immediate effect. Dorsey will remain on the board until May 2022 to oversee a smooth transition.

Who is Parag Agrawal?

Parag Agrawal is an Indian-origin technocrat. He completed his bachelor’s degree in computer science from the Indian Institute of Technology (IIT), Mumbai. 

He has completed his PhD in computer science from Stanford University. He did his research internships from Microsoft, Yahoo, and AT&T Labs during his PhD. 

Agrawal joined Twitter in October 2011 in the role of Distinguished Software Engineer.

He has been with Twitter for over ten years. He has served as Twitter’s chief technology officer (CTO) since 2017. His use of artificial intelligence to boost Twitter’s timeline messages and relevance gave him recognition within the company.

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Agrawal said in his Twitter handle: “The world is watching us right now, even more than they have before. Lots of people are going to have lots of different views and opinions about today’s news. It is because they care about Twitter and our future, and it’s a signal that the work we do here matters. Let’s show the world Twitter’s full potential”. He also expressed his deep gratitude to Dorsey and the company for his elevation.

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What did Jack Dorsey say?

Jack Dorsey tweeted about his resignation on Monday, saying: "Not sure anyone has heard but, I resigned from Twitter". Dorsey was all praise for Agrawal in his tweets.

Dorsey said: Agrawal has been his choice to lead the team. He deeply understands the company. He's curious, creative, and demanding, Dorsey said.

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Dorsey was earlier criticized for ignoring Twitter at the cost of running Square Inc., a payment processing company he founded. The stock fell about 1.30% in intraday trading on Monday.

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Bottomline

The Twitter stock declined about 14% year-to-date. However, the overall technology segment has seen significant growth this year, driven by strong demands and investments. The S&P 500 Index has registered a YTD growth of about 24%.