11/29/2021, 4:46 PM (Source: TeleTrader)
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Twitter names Parag Agrawal new CEO

Twitter Inc. announced on Monday that its board unanimously picked its chief technology officer, Parag Agrawal, to succeed Jack Dorsey as the company's CEO.

The social media company confirmed reports Dorsey will step down with immediate effect but noted he will remain on the board of directors 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. 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 stated.

Meanwhile, Bret Taylor was appointed new chairman of the board, succeeding Patrick Pichette who will remain on the board and stay the chair of the Audit Committee.

Baha Breaking the News (BBN) / NP