A 37-year-old immigrant from India, Parag Agrawal become the new CEO of social media site Twitter. Jack Dorsey has stepped down as a CEO and passed on the responsibilities to relatively unknown executive Parag Agrawal. Agrawal is serving twitter for the last 10 years. Before taking over as CEO, he was serving as Chief Technology Officer. Twitter is one of the highest-profile social networks of Silicon Valley. Also, it has a history of political impulsive jobs.
Though Agarwal is not well known like other CEOs including Elon Musk and Mark Zuckerberg, however, he has a solid technical background. That tweeter is needed for its future stability. CFRA Research analyst Angelo Zino believes he is a ‘’safe’’ pick who should be looked upon as favorably by investors.’’ Experts believe Agarwal will continue with the recent strategy to double its company’s annual revenue by 2023. Also, focuses on its long-term ambition to rebuild how it operates.
Parag Agrawal email to employees
Agarwal said in an email to employees, ‘’ 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.’’
Twitter is currently facing a host of challenges including tough competition from TikTok and Instagram. Moreover, misinformation and hate speech on the platform is another big challenge.
Jill Wilson, the Chief Marketing officer for Esquire Digital said, ‘’ Agrawal has his work cut out for him in terms of keeping twitter relevant and getting the everyday user on board, and monetizing the platform in general.’’
Dorsey co-founded Twitter in 2006, since then he has been dealing with challenges and steered the company through a high-profile hack. He faced criticism for his policies on hate speech and misinformation. Imran Ahmad, the CEO of the Center for Counting Digital Hate said, ‘’ the new CEO will need to work out how to stop his platform being a machine. That is routinely and perpetually hijacked to distort the news agenda, produce fake popularity and influence, and provide a warped lens on the world. ‘’
Dorsey Email to employees
On Monday, Dorsey emailed employees saying he chose to step down due to the strength of Agrawal’s leadership. He said, ‘’ I’m really sad… yet really happy. There aren’t many companies that get to this level, adding his move to step down ‘’was my decision and I own it.’’
