Twitter has named a new chief executive officer (CEO), after its founder Jack Dorsey resigned a day earlier in a surprising turn of events. Subsequently, Dorsey named Parag Agarwal as the new CEO, ending his four-year tenure as the company’s chief technical officer. The IIT Bombay graduate, who has been working with Twitter for a decade, is one of several Indians in Silicon Valley, including Google’s Sundar Pichai and Microsoft’s Satya Nadella, to take over as CEO of a major firm. Agarwal was also the first engineer of the company to be awarded the title of ‘Distinguished Engineer’.
A report in The New York Times said that Agarwal will receive an annual salary of USD 1 million, apart from bonuses, restricted stock units and performance-based stock units. “The board went through a rigorous process considering all options and unanimously appointed Parag. He has been my pick for some time, given how deeply he understands the company and its needs. Parag has been behind every important decision that helped transform this company. He is inquisitive, inquisitive, rational, creative, demanding, self-aware and humble. He moves with heart and soul, and he is someone I learn from daily. My trust in him as our CEO is very deep,” said Jack Dorsey.
Parag Agarwal on Monday became the latest entrant to the Silicon Valley’s Indian-origin CEO and COO club, which spans a long time span from PepsiCo’s Indra Nooyi, Mastercard’s Ajay Banga, Unilever’s Harish Manwani and Alphabet’s Sundar Pichai to Microsoft’s Satya Nadella. is list. Adobe’s Shantanu Narayan.
But what is the reason behind leading global companies choosing Indians at the top of the companies? Experts believe there may be several. In a debate held in World Economic Forum in Mumbai Years ago, executive heads of various companies decoded the reasons for the growing number of tech experts playing key roles in Silicon Valley.
Most of them agreed that Indian CEOs are comfortable with diversity and difference because of the environment they grow up in. India There is a rich cultural diversity – of language, faith and race, among others. Therefore, they are more vulnerable to cultural variations, say experts. In addition, Indians face a “semi-hostile” environment in the country and when they come to a new environment, everything seems easier.
Adding to these is a major reason why Indians get major roles. According to a previously published Pew report, 77.5 percent of Indians had a bachelor’s degree or higher in 2016, the most of any top country of origin. This was in stark contrast to Native Americans, of whom only 31.6 percent have the same degree. Indians are also known for their approach of doing more with less resources, or what is locally known as ‘jugaad’. This allows them to use less amount of capital and still get the job done, ultimately leading to companies preferring Indians over natives in key positions.
Parag Agarwal joining as the new Twitter CEO is likely a result of all these factors, but his personal achievements in the company are no less. Agarwal was the man last year to address Twitter’s issue of racial bias, which reportedly preferred lighter-skinned faces in photos rather than darker ones. He also tackled the issue of password security on Twitter, where a large number of passwords were leaked online. As chief technical officer, Agarwal’s biggest project is probably overseeing BlueSky, the decentralized platform that was announced in December 2019.
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