(Image source from: alfintechcomputer.com)

Jack Dorsey, the Chief Executive Officer and the co-founder of the top social media platform Twitter is now all set to step down from his position and Parag Agrawal is announced as his successor. Jack Dorsey will stay on the board till his term expires in 2022 and the news was issued by Twitter. Jack Dorsey's statement said "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 stepped from his position in 2008 but he returned back in 2015. Indian-origin Parag Agarwal will take the oath and he has been with Twitter since 2017 and is the Chief Technology Officer for the top firm. Dorsey is focused on other responsibilities and he is keen to step down as the revenue growth is crucial for Twitter in the coming months. The shares of Twitter jumped by 3.4 percent at 10:50 AM in New York. Dorsey took over the company under pressure and kept it in a quite comfortable state now told a source. The net worth of Jack Dorsey is 12.3 billion USD. Parag Agarwal took over the charge immediately and he will have to meet the goals of Twitter and the company aims 315 million daily active users by the end of 2023. This would double the revenue of Twitter annually.

By Siva Kumar