Indian-origin technology executive Parag Agrawal has been appointed as the new CEO of Twitter after the social media giant's co-founder Jack Dorsey stepped down on Monday.
Jack Dorsey stepped down as Twitter's CEO after a rather turbulent tenure and handed the reins to IIT-B grad Parag Agarwal.
Twitter's India-born CEO Parag Agrawal has told worried employees that he doesn't know "what direction this company will go in" once the whopping $44 billion deal, which will take the social media giant private, closes with new owner billionaire Elon Musk.
When Parag Agrawal was appointed CEO of Twitter in November 2021, the IIT graduate joined a steadily growing club of executives from India rising to the top of global corporations, but the 38-year-old executive's brief tenure at the helm of the social media giant was challenging and chaotic.
With his elevation as the CEO of Twitter, Parag Agrawal, in whom co-founder of the microblogging giant Jack Dorsey has "bone-deep" trust, joins the growing power club of Indian-origin executives helming US-based global multinationals. Twitter's outgoing CEO Dorsey announced on Monday that 37-year old Agrawal, an Indian Institute of Technology, Bombay and Stanford University alumnus, will be the company's new chief executive as he stepped down after 16 years at the company that he co-founded and helmed. A report in The New York Times said Agrawal will receive an annual salary of $1 million, in addition to bonuses, restricted stock units and performance-based stock units.
Amid layoffs and a severe cost-cutting, Twitter has closed offices in Delhi and Mumbai and asked staff to work from home, according to sources. The micro-blogging platform's Bengaluru office that largely has engineering staff remains operational, the sources said. The Delhi and Mumbai offices shuttered a few weeks ago, with remaining staff now working from home, sources privy to the matter said.
Should we not stop uncritically celebrating NRIs' elevation without regard to what kind of companies they are getting to run, and the nature of their products or business practices, asks T N Ninan.
In an unexpected turn of events, Elon Musk, the world's richest man and the biggest shareholder of Twitter, has decided not to join the board of the micro-blogging platform. The decision of Musk -- who has made a raft of suggestions in recent days for Twitter, even wondering whether its headquarters should be turned into a homeless shelter -- was made public by the platform's India-origin CEO Parag Agarwal in a tweet on Sunday evening. With a 9.2 per cent stake, Musk is currently the biggest shareholder of Twitter, which had entered into an agreement with the billionaire whereby he will get a seat on the platform's board till the 2024 annual shareholders' meeting. He was to join the board on April 9.
Twitter has started laying off employees in India as part of a global job cut ordered by the social media platform's new owner Elon Musk to attain economies of scale and make the USD 44 billion acquisition viable.
Under the terms of the deal, shareholders will receive USD 54.20 in cash for each share of Twitter stock they own, matching Musk's original offer and marking a 38 per cent premium over the stock price the day before Musk revealed his stake in the company, CNN reported.
'The people have spoken. Trump will be reinstated. Vox Populi, Vox Dei,' Musk tweeted on Saturday.
Sriram Krishnan, an Indian-origin technology executive, is "helping out" Twitter's new owner Elon Musk as he revamps the social media giant following its acquisition by the billionaire entrepreneur.
Musk has not yet offered details about how his content moderation council will work.
With billionaire Elon Musk closing the deal to buy Twitter and firing the social media firm's four top executives, twitterati in India on Friday seemed divided with many who were vocal against content moderation on the platform hailing the development while others sounding a note of caution. Musk has completed his $44 billion (one billion=100 crore) takeover of Twitter and fired the social media company's four top executives, including CEO Parag Agrawal and legal executive Vijaya Gadde, according to the New York Times. Musk singled out Gadde, 48, criticising her for her role in content moderation decisions at the company, the report said.
While replying to a user on Twitter, Elon Musk said, "Thank you. A thermonuclear name & shame is exactly what will happen if this continues."
Congress leader Rahul Gandhi has written to Twitter alleging that the micro-blogging site is working under pressure from the Centre and the growth in his Twitter followers has been suppressed.
Earlier this month, Kangana had said that she has no plans to enter into politics professionally as she remains focused on her film career.
Musk also said that there will be a vote for major policy changes on Twitter.
Billionaire Elon Musk has completed his $44 billion takeover of Twitter and fired the social media company's four top executives, including CEO Parag Agrawal and legal executive Vijaya Gadde. The New York Times said that Musk, the world's richest man, closed the deal to buy Twitter on Thursday. Citing people with knowledge of the situation, the report said that Musk "has started cleaning house at Twitter with the firings of at least four top executives". The Twitter executives who were fired include Agrawal, Gadde, chief financial officer Ned Segal and general counsel Sean Edgett.
Musk has blamed activists for a significant drop in the company's revenues.
Twitter users voted on Monday for Elon Musk to quit as head of the social media giant in a poll the technology tycoon ran on his future and promised to abide by its results.
Musk blasted the "current lords and peasants system for who has or doesn't have a blue checkmark", using an expletive.
Citing people with knowledge of the situation, the report said that some managers were being asked to "draw up lists of employees to cut."
'I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software and servers teams,' he tweeted Tuesday.
Elon Musk, the owner of Twitter, said he has "killed" the new 'official' label for certain verified Twitter accounts just hours after the feature was visible on multiple handles of governments, politicians, officials and media houses. Just hours after the feature went live, he hinted that it simply didn't work. "I just killed it," he said in a tweet replying to a web video producer Marques Brownlee's tweet of the 'official' label vanishing after a brief appearance.
India's expectation of Twitter complying with the country's rules for social media platforms will not change with its takeover by Elon Musk, according to a senior minister.
One more case has been registered against former Mumbai police commissioner Param Bir Singh for allegedly extorting money from the relative of a builder and kidnapping him for ransom, the police said on Friday.
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
'He is a busy man these days, still, he makes it a point to call me at least once a month.'
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The Committee of Administrators (COA) on Friday assured that all six north eastern states will be playing Ranji Trophy as individual units next season with Board of Control for Cricket in India GM (Game Development), Ratnakar Shetty, given charge of their smooth integration.
590 cricketers -- including 370 Indian players and 220 overseas players -- will go under the hammer during the two-day mega auction in Bengaluru on February 12 and 13.
India Test regulars like Cheteswar Pujara and Ishant Sharma have also thrown their hat into the ring with base prices of Rs 50 and Rs 75 lakh respectively.
Over the past two decades, India has evolved economically as well as from the market's perspective.
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