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Twitter Chief Technology Officer Agrawal to replace Dorsey as CEO

Dorsey is stepping down as chief of the social media company.

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Twitter Chief Technology Officer Agrawal to replace Dorsey as CEO
GNN Media: Representational Photo

Twitter CEO Jack Dorsey is stepping down as chief of the social media company, effective immediately. Parag Agrawal, Twitter’s chief technology officer, will take over the helm, the company said Monday.

Shares of Twitter were down about half a percent before noon on Monday.

Dorsey, 45, was serving as both the CEO of Twitter and Square, his digital payments company. Dorsey will remain a member of the board until his term expires at the 2022 meeting of stockholders, the company said. Salesforce President and COO Bret Taylor will become the chairman of the board, succeeding Patrick Pichette, a former Google executive, who will remain on the board as chair of the audit committee.

 “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders,” Dorsey said in a statement, though he didn’t provide any additional detail on why he decided to resign.

Agrawal will have to meet Twitter’s aggressive internal goals. The company said earlier this year it aims to have 315 million monetizable daily active users by the end of 2023 and to at least double its annual revenue in that year.

Agrawal, who’s served as CTO since 2017, has been with Twitter for more than a decade. He had been in charge of strategy involving artificial intelligence and machine learning and he led projects to make tweets in users’ timelines more relevant to them.

Agrawal was also previously tasked with finding a leader for Project Bluesky, a research project Twitter launched to establish open and decentralized standards for social media platforms. Dorsey had previously said Bluesky will help social media companies collaborate on how posts are promoted to users and will give users more control over the content they see. Bluesky could also make it easier for the social networks to enforce restrictions against hate speech and other abuse, essentially helping them share the load at a lower cost.

Agrawal held research internships at AT&T, Microsoft and Yahoo prior to joining Twitter.

Dorsey said in an email he published on Twitter that Agrawal has been his choice to lead the company “for some time given how deeply he understands the company and its needs.”

Dorsey was nearly ousted last year when Twitter stakeholder Elliott Management had sought to replace him. Elliott Management founder and billionaire investor Paul Singer had wondered whether Dorsey should run both of the public companies. Singer called for Dorsey to step down as CEO of one of them before the investment firm reached a deal with Twitter’s management.

Dorsey, who co-founded the social media giant in 2006, served as CEO until 2008 before being pushed out of the role. He returned to lead Twitter in 2015 after former CEO Dick Costolo stepped down.

Shares have jumped 85% since Dorsey took over as CEO on Oct 5. 2015. Square stock has surged 1,566% since its initial public offering on Nov. 19, 2015.

SOURCE: CNBC

Faisal Ali Ghumman

Mr. Ghumman is a seasoned journalist who has 19 years of diversified experience in print, electronic and digital media. He has worked with 92 News HD, Daily Pakistan Today, Daily The Business, Daily Dawn, Daily Times and Pakistan Observer as News Reporter, Feature Writer, Editor, Web Content Editor and Article Writer. Mr Ghumman has graduated from the Bahauddin Zakariya University Multan and is currently enrolled in M.Phil in Mass Communication at the University of Punjab.

Pakistan

PM's use of religion as 'cover-up' for economic, governance breakdown a matter of concern: Shehbaz

The PML-N leader's criticism came hours after an article written by the premier titled 'Spirit of Riyasat-i-Madina: Transforming Pakistan'

Published by Faisal Ali Ghumman

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PM's use of religion as 'cover-up' for economic, governance breakdown a matter of concern: Shehbaz

PML-N president and Leader of the Opposition in the National Assembly Shehbaz Sharif Monday said he was "really concerned" with the way Prime Minister Imran Khan was "using religion as a cover-up for the massive governance and economic breakdown" in the country, which he attributed to the latter's policies.

"Such a self-serving approach will wreak greater damage upon the polity than is being understood," he said on Twitter.

Shehbaz's criticism came hours after an article penned by the premier titled 'Spirit of Riyasat-i-Madina: Transforming Pakistan' was published in which he talked about the five basic tenets of Islam and how, in order for the country to realise its potential, society will have to struggle to embody these principles as a nation.

 

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World

PM appreciates Putin, discusses bilateral cooperation

Imran Khan said he looks forward to President Putin's visit to Pakistan as well as his own visit to Russia at an appropriate time.

Published by Mehak Javed

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PM appreciates Putin, discusses bilateral cooperation

Islamabad: Prime Minister Imran Khan has appreciated Russian President Vladimir Putin's statement that insulting Holy Prophet Muhammad (Peace Be Upon Him) does not count as an expression of artistic freedom but is a violation of religious freedom.

In a telephonic conversation with the Russian President, the Prime Minister said he has been regularly highlighted the appalling rise in Islamophobia and associated hatred in his addresses to the UN General Assembly, pointing towards its serious ramifications. 

The Prime Minister underscored that Pakistan's bilateral relationship with Russia is on an upward trajectory, with an increased focus on trade and economic ties and energy cooperation.

He reiterated the government's resolve for early realization of the Pakistan Stream Gas Pipeline Project.

Both leaders agreed to enhance bilateral cooperation in different areas, increase high-level exchanges, and remain in close contact on matters relating to Afghanistan.

The Prime Minister underscored that a peaceful and stable Afghanistan is pivotal for regional stability.

He said Afghanistan is facing dire humanitarian and economic challenges and support of the international community to the people of Afghanistan at this critical juncture remained vitally important.

The Prime Minister also underscored the importance of release of Afghanistan's financial assets for addressing the dire needs of the Afghan people.

Imran Khan said he looks forward to President Putin's visit to Pakistan as well as his own visit to Russia at an appropriate time.

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Pakistan

No substitute for selfless leadership of Imran Khan: Usman Buzdar

Pakistan has got truthful and honest leader

Published by Siddra Sumreen

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No substitute for selfless leadership of Imran Khan: Usman Buzdar

Lahore: Punjab Chief Minister Usman Buzdar on Monday has said that lamp of negative politics of opposition has gone out, there is no substitute for the selfless leadership of Imran Khan.

In a statement, Usman Buzdar has said that opposition leaders have become restless due to from power. “In Shaa Allah this restlessness will continue even after 2023. They do criticism just for the sake of criticism for improving their political impression,” he added.

He said that the people who polluted politics with corruption their place is jail. The chief minister said that there is not any substitute of selfless leadership of Prime Minister Imran Khan. Pakistan has got truthful and honest leader. We performed those tasks in 42 months which previous governments could not perform in years.

"Pakistan Tehreek-e-Insaf (PTI) has done great work in three and a half years which the previous governments could not do in decades", Usman Buzdar concluded.

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