Twitter has named a brand new chief govt officer (CEO), after its founder Jack Dorsey resigned a day again in a stunning flip of occasions. Following this, Dorsey named Parag Agrawal as the brand new CEO thereby ending his four-year stint because the chief technical officer of the corporate. The IIT Bombay graduate, who has labored with Twitter for a decade now, is likely one of the many Indians within the Silicon Valley together with Google’s Sundar Pichai and Satya Nadella of Microsoft, to take over because the CEO of a serious agency. Agrawal was additionally the primary engineer within the firm to be awarded the ‘Distinguished Engineer’ title.
A report in The New York Occasions stated Agrawal will obtain an annual wage of USD 1 million, along with bonuses, restricted inventory models and performance-based inventory models. “The board ran a rigorous course of contemplating all choices and unanimously appointed Parag. He’s been my selection for a while given how deeply he understands the corporate and its wants. Parag has been behind each important choice that helped flip this firm round. He’s curious, probing, rational, inventive, demanding, self-aware, and humble. He leads with coronary heart and soul, and is somebody I study from day by day. My belief in him as our CEO is bone deep,” stated Jack Dorsey.
Parag Agrawal on Monday turned the most recent entrant of the Indian-origin CEO and COO membership of the Silicon Valley, which is an extended checklist starting from PepsiCo’s Indra Nooyi, Mastercard’s Ajay Banga, Unilever’s Harish Manwani and Alphabet’s Sundar Pichai, to Microsoft’s Satya Nadella and Adobe’s Shantanu Narayen.
However what’s the motive behind main international firms selecting Indians to the helm of the businesses? Specialists imagine there may be a number of. At a debate organised on the World Financial Discussion board in Mumbai years again, govt heads of various firms decoded the explanations behind the rising variety of techies occupying key roles on the Silicon Valley.
Most of them agreed that Indian CEOs are comfy with variety and distinction due to the ambiance they develop up in. India has a wealthy cultural variety — that of language, religion, and caste, amongst others. They, subsequently, are extra delicate to cultural diversities, stated specialists. Indians, furthermore, face a “semi-hostile” surroundings again within the nation and once they come to a brand new ambiance, all the pieces appears simpler.
Including to those is one main motive why Indians get the main roles. As per a Pew report revealed earlier, 77.5 per cent Indians had a bachelor’s diploma or larger in 2016, which was the best amongst any prime origin nation. This was in sharp distinction to that of native-born People, solely 31.6 per cent of who’ve an analogous diploma. Indian’s are additionally identified for his or her strategy of doing extra with much less assets, or what’s domestically often known as ‘jugaad’. This makes them dissipate lesser quantity of capital and nonetheless get the job completed, finally making firms desire Indians over natives in main positions.
Parag Agrawal’s induction as the brand new Twitter CEO is prone to be a results of all these causes, however his private achievements on the firm is not any much less. Agrawal was the person behind addressing Twitter’s racial bias difficulty final yr, which allegedly most well-liked light-skinned faces in images slightly than dark-skinned. He additionally handled the password safety difficulty at Twitter the place a lot of passwords had been leaked on-line. Because the chief technical officer, Agrawal’s greatest undertaking in all probability has been overseeing of Bleusky, the decentralised platform which was introduced in December 2019.