Jack Dorsey steps down as Twitter CEO, IIT-B grad Parag Agarwal to succeed him

New Delhi:Twitter CEO Jack Dorsey on Monday stepped down with immediate effect and named social media giant's chief technology officer (CTO) Parag Agarwal as his successor.

"Parag is CEO starting today. I am going to serve on the board through my term (May-ish) to help Parag and Bret with the transition," Dorsey wrote in an email to team members.

Salesforce President and COO Bret Taylor is all set to become Chairman of the Twitter Board. Taylor succeeds Patrick Pichette who will remain a member of the Board and continue to serve as chair of the Audit Committee.

Dorsey tweeted the resignation letter saying his wish for Twitter Inc is to be the most transparent company in the world.

A graduate from IIT, Bombay Parag joined Twitter in 2011 and has served as Chief Technology Officer (CTO) since October 2017. He holds a Ph.D. in Computer Science from Stanford University.(UNI)