Jack Dorsey was resigned as Twitter CEO in a surprise move. Parag Agrawal was appointed CEO by the Company's board after this. Agrawal joined Twitter in 2011 as an ads engineer and has been a Chief Technology Officer or CTO since October 2017.
After his appointment as CEO, Agrawal will get an annual salary of $1,000, 000 and will continue to be 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 with a face value of $12, 50,000. The stock units will be issued in 16 equal quarterly increments, each representing 6.25 percent of the grant beginning February 1, 2022.
On November 29, 2021, Twitter Inc. announced that Jack Dorsey will step down as Chief Executive Officer, effective November 29, 2021. On November 29, 2021, the Company s board of directors unanimously appointed Parag Agrawal, the Company's Chief Technology Officer, as Chief Executive Officer and a member of the Board. The filing said that Dorsey will continue to serve as a non-employee director on the Company's Board until his term ends at the 2022 meeting of stockholders.
Soon after this news became the top trend on Twitter, the internet started sharing rib-tickling memes. One user said that the happiest person right now is the 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, shared a screenshot of a tweet on her Instagram story and wrote a three-word caption, Bye chacha Jack.