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Twitter CTO Parag Agrawal appointed CEO as Jack Dorsey steps down

Twitter Chief Technology Officer Parag Agrawal will step into Jack Dorsey's role as CEO as unanimously voted by the company's Board of Directors.
TJ Denzer
TJ Denzer
7

Major moves are happening within the Twitter company today. Where the day kicked off with substantial rumblings that Jack Dorsey may step down as CEO of the company, those rumors have now not only been confirmed, but a successor has been named to the role. Chief Technology Officer (CTO) Parag Agrawal will take up the role as CEO and member of the Board of Directors immediately. Meanwhile, as Dorsey steps down from the role, he will remain a Board member until his term expires in 2022.

Jack Dorsey’s resignation as CEO and the appointment of Parag Agrawal were confirmed by the Twitter company on November 29, 2021, as reported by PR Newswire. It was further confirmed by Jack Dorsey himself via his personal Twitter. Agrawal will take up the role of CEO and member of Twitter’s company Board as of today.

“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,” Dorsey said in an accompanying statement.

This follows reporting earlier in the day that Dorsey was set to step down as CEO with the company moving in a far more aggressive direction towards monetization though services such as Twitter Blue and the upcoming Twitter Shop Module. The Twitter stock jumped around 10 percent on the news of Dorsey’s departure from the CEO role of his company and has bounced around throughout the day on the confirmation and Parag Agrawal’s appointment as his successor.

Jack Dorsey will remain on Twitter’s Board of Directors until his term ends in 2022. After that time, Dorsey has suggested he will fully separate from the company, likely putting his full focus on the Square digital payments platform where he remains CEO. As Agrawal takes up the reins of Twitter as CEO, stay tuned for further updates here at Shacknews.

Senior News Editor
Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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