The New York Times<\/em> said Agrawal will receive an annual salary of $1 million, in addition to bonuses, restricted stock units and performance-based stock units.<\/p>\n“After almost 16 years of having a role at our company…from co-founder to CEO to Chair to Exec Chair to interim-CEO to CEO…I decided it’s finally time for me to leave. Why?<\/p>\n
“There’s a lot of talk about the importance of a company being ‘founder-led.’<\/p>\n
“Ultimately I believe that’s severely limiting and a single point of failure.<\/p>\n
“I’ve worked hard to ensure this company can break away from its founding and founders.<\/p>\n
“There are 3 reasons I believe now is the right time.<\/p>\n
“The first is Parag becoming our CEO.<\/p>\n
“The board ran a rigorous process considering all options and unanimously appointed Parag.<\/p>\n
“He’s been my choice for some time given how deeply he understands the company and its needs.<\/p>\n
“Parag has been behind every critical decision that helped turn this company around.<\/p>\n
“He’s curious, probing, rational, creative, demanding, self-aware, and humble.<\/p>\n
“He leads with heart and soul, and is someone I learn from daily.<\/p>\n
“My trust in him as our CEO is bone deep,” Dorsey said.<\/p>\n
Agrawal’s ascension as Twitter CEO puts him in the growing ranks of Indian-origin and Indian-born executives being named to the helm of global multinationals.<\/p>\n
In January2020, Indian-born technology executive Arvind Krishna was named chief executive officer of American IT giant IBM after a “world-class succession process”, succeeding Virginia Rometty, who had described him as the “right CEO for the next era at IBM” and “well-positioned” to lead the company into the cloud and cognitive era.<\/p>\n
Krishna, 59, had joined IBM in 1990 and has an undergraduate degree from the Indian Institute of Technology, Kanpur, and a PhD in electrical engineering from the University of Illinois at Urbana-Champaign.<\/p>\n
In August 2015, Sundar Pichai was named CEO of the newly organised Google, becoming only the third chief executive of the company after former CEO Eric Schmidt and co-founder Larry Page.<\/p>\n
In December 2019, Pichai became the CEO of Google’s parent company Alphabet.<\/p>\n
Pichai wished Dorsey “the very best ahead” and congratulated Agrawal and Board Chair Bret Taylor, saying he is “excited for Twitter’s future!”<\/p>\n
In February 2014, Microsoft veteran Satya Nadella was named CEO of the technology giant.<\/p>\n
MasterCard CEO Ajay Banga, PepsiCo’s former CEO Indra Nooyi and Adobe CEO Shantanu Narayen are among the other Indian-origin executives who have climbed up the corporate ladder and helmed multinational giants.<\/p>\n
Mumbai-born Agrawal tweeted Monday “Deep gratitude” for Dorsey and the entire team.<\/p>\n
In a note posted on Twitter, he said he is “honoured and humbled” on his appointment and expressed gratitude to Dorsey’s “continued mentorship and your friendship.”<\/p>\n
Agrawal had joined Twitter 10 years ago when there were fewer than 1,000 employees.<\/p>\n
“While it was a decade ago, those days feel like yesterday to me. I’ve walked in your shoes, I’ve seen the ups and downs, the challenges and obstacles, the wins and the mistakes.<\/p>\n
“But then and now, above all else, I see Twitter’s incredible impact, our continued progress, and the exciting opportunities ahead of us,” he said.<\/p>\n
“Our purpose has never been more important. Our people and our culture are unlike anything in the world.<\/p>\n
“There is no limit to what we can do together,” he said.<\/p>\n
“The world is watching us right now, even more than they have before.<\/p>\n
“Lot of people are going to have lot of different views and opinions about today’s news.<\/p>\n
“It is because they care about Twitter and our future, and it’s a signal that the work we do here matters,” he said.<\/p>\n
A report in The New York Times<\/em> said Agrawal, who was Twitter’s chief technology officer since 2017, “is little known to the public, with even some Twitter insiders saying they were surprised by his appointment.”<\/p>\nBut behind the scenes, the India-born engineer has been a Twitter veteran and confidant of Dorsey who has been involved in many of the company’s biggest strategic initiatives, it said.<\/p>\n
The NYT report said that in 2005, Agrawal moved to the United States and pursued a doctorate in computer science while enrolled at Stanford University.<\/p>\n
“Even among students at Stanford, Agrawal stood out for his strong grasp of the math and the theory that underpins computer science,” the NYT<\/em> report quoted Jennifer Widom, who led the research lab and served as his thesis adviser, as saying.<\/p>\nAs chief technical officer, Agrawal was responsible for Twitter’s technical strategy, leading work to improve development velocity while advancing the state of Machine Learning across the company.<\/p>\n
“Even as chief technology officer, Agrawal has kept a low profile.<\/p>\n
“He worked behind the scenes to rebuild Twitter’s technical infrastructure, which had been cobbled together over the years.<\/p>\n
“That led to engineering problems and prevented the company from introducing new products and services as quickly as it wanted.<\/p>\n
“Agrawal helped Twitter shift to using cloud computing services from Google and Amazon, streamlining its operations,” the NYT<\/em> report said.<\/p>\nPrior to being appointed CTO, he “had risen to be Twitter’s first Distinguished Engineer due to his work across revenue and consumer engineering, including his impact on the re-acceleration of audience growth in 2016 and 2017,” the company said.<\/p>\n
Agrawal also managed Twitter’s effort to “incorporate cryptocurrencies into the platform, letting users send tips in cryptocurrency like Bitcoin.<\/p>\n
“And he has supported efforts to be transparent about Twitter’s algorithmic mistakes, urging the company to go public with its findings that a photo-cropping algorithm it used was biased,” the NYT<\/em> report said.<\/p>\nSource: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"With his elevation as the CEO of Twitter, Parag Agrawal, in whom co-founder of the microblogging giant Jack Dorsey has “bone-deep” trust, joins the growing […]<\/p>\n","protected":false},"author":3,"featured_media":123527,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\n
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