Another story, another Indian and another BIG S&P Company. An IIT-Bombay graduate, Parag Agarwal (37), is the new Chief Executive Officer of Twitter, replacing its Co-founder Jack Dorsey, who stepped down from the executive role on 29th November 2021.
Parag is the youngest CEO leading an S&P 500 company, perhaps slightly than Meta Platform Inc.’s CEO Mark Zuckerberg.
How Parag Joined Twitter
In 2011, He joined Twitter as a distinguished software engineer and became the Chief Technology Officer in 2017. An Indian-American is a Stanford Alumni with PhD has a net worth of $1.2 million.
Working at the backend, he was responsible for the microblogging platform’s technical aspects, such as overseeing the development and dissemination of technology for external customers and other clients to improve and increase business.
As a research analyst, he worked with Microsoft Corporation, Yahoo and AT&T Labs, Inc. from 2006 to 2010 before joining Twitter.
As a CTO, he has managed Twitter’s Research and Development (R&D). Along with that, he played several roles such as strategic planner, Customer relations liaison and oversaw Twitter’s pursuit of blockchain in four years stint.
Jack Dorsey will Remain in the panel of board members
Dorsey,45, will still be in the panel of board members through the summer and will stay at the helm of Square Inc., the payments company he also co-founded.
Twitter Inc. turned inward and chose a low-profile technologist to steer a microblogging platform that has underperformed the market, hesitantly launched its new products and strived to moderate harmful content under a leader long criticized for dividend attention.
Quoted by David Larcker, who is a professor at the Stanford Graduate School of Business and studies CEO performance that, “I don’t think the age thing is that big of a deal, especially for companies like this, It could be an advantage.
The fact that Dorsey is stepping down from the board, so he’s not going to be like a shadow CEO, he must have real confidence in him.”
Parag’s been looked upon by all the Indians and the company itself because the job involves running the slow-paced microblogging site, which faces competition from Instagram and Meta.
Twitter will Launch New Subscription Features
The company has been slow to roll out new products and features for years but has started to move faster, make more acquisitions and push into areas that might expand the business, like live audios and subscriptions.
Agarwal being the full-time CEO for the first time in years, sent a message to his colleagues, alluding to the challenges and opportunities that will lie ahead. “We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right,” Parag wrote.”
But our critical challenge is how we work to execute against it and deliver results; that’s how we’ll make Twitter be the best it can be for our customers, shareholders, and each of you.”
The responsibility is big enough as he won’t just need to develop and grow the Platform’s Business. He also has to combat political issues arising daily, such as how to moderate speech on the internet.
In the waiving message, the new CEO wrote on Monday, “The world is watching us right now, even more than they have before. It’s because they care about Twitter and our future, and it’s a signal that the work we do here matters.”
Wishing luck and best wishes to the Mumbaikar who is winning in America.
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