<p>Indian-origin technology executive Parag Agrawal has been appointed as the new CEO of Twitter after the social media giant’s co-founder Jack Dorsey stepped down on Monday.</p>.<p>In a message posted on Twitter, Dorsey said: “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>.<p>“There's a lot of talk about the importance of a company being "founder-led".</p>.<p>“Ultimately, I believe that's severely limiting and a single point of failure. I've worked hard to ensure this company can break away from its founding and founders,” he said.</p>.<p>Agrawal, an IIT Bombay and Stanford alumnus, said in a note posted on Twitter that he is “honored and humbled” on his appointment and expressed gratitude to Dorsey’s “continued mentorship and your friendship.”</p>.<p>Dorsey said that there are three reasons he believes now is the right time.</p>.<p>“The first is Parag becoming our CEO. The board ran a rigorous process considering all options and unanimously appointed Parag. He's been my choice for some time given how deeply he understands the company and its needs,” he said.</p>.<p>Parag has been behind every critical decision that helped turn this company around. He's curious, probing, rational, creative, demanding, self-aware and humble, Dorsey said.</p>.<p>“He leads with heart and soul, and is someone I learn from daily. My trust in him as our CEO is bone deep,” Dorsey added.</p>.<p>Agrawal joined Twitter 10 years ago when there were fewer than 1,000 employees.</p>.<p>Agrawal said: “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>.<p>“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>.<p>“Our purpose has never been more important. Our people and our culture are unlike anything in the world. There is no limit to what we can do together.</p>.<p>“We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right. 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,” Agrawal noted.</p>.<p>The world is watching right now, even more than they have before, he said.</p>.<p>“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 here matters,” Agrawal added. </p>.<p>Dorsey's statement below:</p>.<p>Parag's statement below:</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p>Indian-origin technology executive Parag Agrawal has been appointed as the new CEO of Twitter after the social media giant’s co-founder Jack Dorsey stepped down on Monday.</p>.<p>In a message posted on Twitter, Dorsey said: “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>.<p>“There's a lot of talk about the importance of a company being "founder-led".</p>.<p>“Ultimately, I believe that's severely limiting and a single point of failure. I've worked hard to ensure this company can break away from its founding and founders,” he said.</p>.<p>Agrawal, an IIT Bombay and Stanford alumnus, said in a note posted on Twitter that he is “honored and humbled” on his appointment and expressed gratitude to Dorsey’s “continued mentorship and your friendship.”</p>.<p>Dorsey said that there are three reasons he believes now is the right time.</p>.<p>“The first is Parag becoming our CEO. The board ran a rigorous process considering all options and unanimously appointed Parag. He's been my choice for some time given how deeply he understands the company and its needs,” he said.</p>.<p>Parag has been behind every critical decision that helped turn this company around. He's curious, probing, rational, creative, demanding, self-aware and humble, Dorsey said.</p>.<p>“He leads with heart and soul, and is someone I learn from daily. My trust in him as our CEO is bone deep,” Dorsey added.</p>.<p>Agrawal joined Twitter 10 years ago when there were fewer than 1,000 employees.</p>.<p>Agrawal said: “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>.<p>“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>.<p>“Our purpose has never been more important. Our people and our culture are unlike anything in the world. There is no limit to what we can do together.</p>.<p>“We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right. 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,” Agrawal noted.</p>.<p>The world is watching right now, even more than they have before, he said.</p>.<p>“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 here matters,” Agrawal added. </p>.<p>Dorsey's statement below:</p>.<p>Parag's statement below:</p>.<p><strong>Watch latest videos by DH here:</strong></p>