New Delhi: Twitter has become the latest tech firm to hire an Indian origin CEO. Parag Agrawal, a company insider and Twitter CTO was on Monday replaced chief executive officer Jack Dorsey. While social media was abuzz as Indians rushed to find out about the new Twitter CEO's salary, his IIT rank among other details, Twitter's filing with the US Securities and Exchange Commission (SEC) has revealed Agrawal's annual salary.
According to Twitter's filing with the SEC, the new company CEO will draw an annual salary of $1 million, plus bonuses. Agrawal will also get restricted stock units valued at $12.5 million (that roughly translates into Rs 93.9 crore) which will be vested in 16 equal quarterly increments, beginning February 2022. Outgoing CEO Dorsey was on an annual salary of $1.4 since 2018.
Parag Agrawal joined Twitter in 2011 and was serving as chief technology officer (CTO) since 2017. As the chief technology officer at Twitter, Parag Agrawal was responsible for the microblogging platform’s Technical Strategy, Machine Learning, Artificial Intelligence, Consumer, Revenue and Science teams, according to his biography on the Twitter leadership page.
Dorsey stepped down from his role as the micro-blogging platform's Chief Executive Officer. He had informed about the development through a tweet late on Monday. In his statement, Dorsey also revealed that Indian-origin technology executive Parag Agarwal is set to take over.
Expressing his faith in his successor, Dorsey wrote: "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. Parag has been behind every critical decision that helped turn this company around. He's curious, probing, rational, creative, demanding, self-aware, and humble. He leads with heart and soul, and is someone I learn from daily. My trust in him as our CEO is bone deep."