Jack Dorsey announced his resignation as the Twitter CEO in a surprise move. After this, the Company’s board appointed Parag Agrawal as the CEO unanimously. Agrawal joined Twitter as an ads engineer in 2011 and has served as Chief Technology Officer or CTO since October 2017.
After his appointment as the CEO, Agrawal will get an annual salary of $1,000,000 and will continue to be associated as a participant in the Company’s executive bonus plan with a new target bonus of 150 percent of his annual base salary, Twitter said in a SEC filing.
Agrawal will own Twitter stock units having a face value of $12, 50,000. These stock units will vest in 16 equal quarterly increments (each being 6.25 percent of the grant) beginning February 1, 2022.
“On November 29, 2021, Twitter Inc. announced that Jack Dorsey has decided to step down as Chief Executive Officer, effective as of November 29, 2021. The Company’s board of directors has unanimously appointed Parag Agrawal, the Company’s Chief Technology Officer, as Chief Executive Officer and as a member of the Board, effective November 29, 2021. Mr Dorsey will continue to serve on the Company’s Board as a non-employee director until his term expires at the 2022 meeting of stockholders,” the filing read.
Soon after this news became the top trend on Twitter, internet started sharing rib-tickling memes. One of the users also said that the happiest person right now is controversy’s favourite child—actor Kangana Ranaut as her Twitter account has been suspended after she made some comments on the farmers’ protests in India.
Kangana Ranaut, known for her films like Thalaivi, also shared the screenshot of a tweet on her Instagram story and wrote a three-word caption, “Bye chacha Jack….”
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