Twitter CEO Jack Dorsey Steps Down from Position, Parag Agrawal to Take Over

Photo: Reuters

On Monday, Jack Dorsey stepped down from his position as the chief executive of the social media platform that he co-founded. Jack co-founded Twitter a decade and a half ago, in 2016.  The company’s chief technology officer, Parag Agrawal, was immediately announced as the company’s next CEO.

Jack Dorsey, 45, announced his leave through, aptly, a tweet. “There’s a lot of talk about the importance of a company being ‘founder-led,'” Dorsey said in the tweet. “Ultimately I believe that’s severely limiting and a single point of failure.”

Agrawal, who is 37, now has to meet Twitter’s internal goals of having 315 million monetizable daily users by the end of 2023 and to double its annual revenue by the end of the same year. 

Agrawal has been an employee for Twitter for 10 years now and has served as the CRO since 2017. He was in charge of artificial intelligence strategy and machine learning and making tweets on the timeline more relevant to the users. 

In a statement on Twitter, Agrawal announced that he was prepared to meet those goals head-on. “We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right,” he said in a tweet. “But our critical challenge is how we work to execute against it and deliver results — that’s how we’ll make Twitter the best it can be for our customers, shareholders, and for each of you.” 

Jack also announced in his statement that Parag Agrawal was his choice for some time now, given how deeply he understands the company and its needs. “He’s curious, probing, rational, creative, demanding, self-aware, and humble. He leads with heart and soul, and is someone I learn from daily.”

With these words, it’s clear that the social media platform is in good hands. As Agrawal put it, “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 matters. Let’s show the world Twitter’s full potential!”