Twitter's Parag Agrawal joins club of Indian-origin CEOs heading top tech giants

News Network
November 30, 2021

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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 IIT Mumbai 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 that Agrawal will receive an annual salary of $1 million, in addition to bonuses, restricted stock units and performance-based stock units.

“After almost 16 years of having a role at our company...from co-founder to CEO to Chair to Exec Chair to interim-CEO to CEO...I decided it's finally time for me to leave. Why?

“There's a lot of talk about the importance of a company being 'founder-led.' Ultimately I believe that's severely limiting and a single point of failure. I've worked hard to ensure this company can break away from its founding and founders. There are 3 reasons I believe now is the right time.

“The first is Parag becoming our CEO. The board ran a rigorous process considering all options and unanimously appointed Parag. He's been my choice for some time given how deeply he understands the company and its needs.

Parag has been behind every critical decision that helped turn this company around. He's curious, probing, rational, creative, demanding, self-aware, and humble. He leads with heart and soul and is someone I learn from daily. My trust in him as our CEO is bone-deep,” Dorsey said.

Agrawal’s ascension as Twitter CEO puts him in the growing ranks of Indian-origin and Indian-born executives being named to the helm of global multinationals.

In January last year, Indian-born technology executive Arvind Krishna was named Chief Executive Officer of American IT giant IBM after a "world-class succession process", succeeding Virginia Rometty, who had described him as the “right CEO for the next era at IBM” and “well-positioned" to lead the company into the cloud and cognitive era.

Krishna, 59, had joined IBM in 1990 and has an undergraduate degree from the Indian Institute of Technology, Kanpur, and a PhD. in electrical engineering from the University of Illinois at Urbana-Champaign.

In August 2015, Sundar Pichai was named CEO of the newly organised Google, becoming only the third chief executive of the company after former CEO Eric Schmidt and co-founder Larry Page. In December 2019, Pichai became the CEO of Google’s parent company Alphabet.

Pichai wished Dorsey “the very best ahead” and congratulated Agrawal and Board Chair Bret Taylor, saying he is “excited for Twitter's future!”

In February 2014, Microsoft veteran Satya Nadella was named CEO of the technology giant. MasterCard CEO Ajay Banga, PepsiCo’s former CEO Indra Nooyi and Adobe CEO Shantanu Narayen are among the other Indian-origin executives who have climbed up the corporate ladder and helmed multinational giants.

Mumbai-born Agrawal tweeted Monday “Deep gratitude” for Dorsey and the entire team.

In a note posted on Twitter, he said he is “honoured and humbled” on his appointment and expressed gratitude to Dorsey’s “continued mentorship and your friendship.”

Agrawal had joined Twitter 10 years ago when there were fewer than 1,000 employees.

"While it was a decade ago, those days feel like yesterday to me. I've walked in your shoes, I've seen the ups and downs, the challenges and obstacles, the wins and the mistakes. But then and now, above all else, I see Twitter's incredible impact, our continued progress, and the exciting opportunities ahead of us,” he said.

“Our purpose has never been more important. Our people and our culture are unlike anything in the world. There is no limit to what we can do together,” he said.

“The world is watching us right now, even more than they have before. Lots of people are going to have lots of different views and opinions about today's news. It is because they care about Twitter and our future, and it's a signal that the work we do here matters,” he said.

A report in The New York Times said Agrawal, who was Twitter’s chief technology officer since 2017, “is little known to the public, with even some Twitter insiders saying they were surprised by his appointment."

But behind the scenes, the India-born engineer has been a Twitter veteran and confidant of Dorsey who has been involved in many of the company’s biggest strategic initiatives, it said.

The NYT report said that in 2005, Agrawal moved to the United States and pursued a doctorate in computer science while enrolled at Stanford University.

“Even among students at Stanford, Agrawal stood out for his strong grasp of the math and the theory that underpins computer science,” the NYT report quoted Jennifer Widom, who led the research lab and served as his thesis adviser, as saying.

As CTO, Agrawal was responsible for Twitter’s technical strategy, leading work to improve development velocity while advancing the state of Machine Learning across the company.

“Even as chief technology officer, Agrawal has kept a low profile. He worked behind the scenes to rebuild Twitter’s technical infrastructure, which had been cobbled together over the years. That led to engineering problems and prevented the company from introducing new products and services as quickly as it wanted. Agrawal helped Twitter shift to using cloud computing services from Google and Amazon, streamlining its operations,” the NYT report said.

Prior to being appointed CTO, he “had risen to be Twitter's first Distinguished Engineer due to his work across revenue and consumer engineering, including his impact on the re-acceleration of audience growth in 2016 and 2017,” company said.

Agrawal also managed Twitter’s effort to “incorporate cryptocurrencies into the platform, letting users send tips in cryptocurrency like Bitcoin. And he has supported efforts to be transparent about Twitter’s algorithmic mistakes, urging the company to go public with its findings that a photo-cropping algorithm it used was biased,” the NYT report said.

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News Network
November 10,2024

Bengaluru: The Karnataka government has warned that disciplinary action will be taken against those officials who change the land mutation records and serve eviction notices to farmers under the Waqf Act.

In a letter, the Revenue Department Principal Secretary Rajender Kumar Kataria reminded all regional commissioners and deputy commissioners in the districts that Chief Minister Siddaramaiah recently had a meeting following complaints about certain land properties being made in favour of the Karnataka Board of Waqfs.

In the meeting it was decided that all the directions issued previously by any government office or authority to change the mutation records has been withdrawn, the letter said.

It added that all the notices served in the past have also been withdrawn and no action should be taken against the farmers who are cultivating on the said land.

On the directions of the chief minister, the previous letters and the latest reminders served on November 7 to the farmers and land owners have been withdraw, the letter said.

"The officials who served reminder-2 despite the chief minister's direction will face appropriate disciplinary action," Kataria said in his letter.

He said he has been instructed to strictly implement the chief minister's direction.

The fresh direction was issued in poll-bound Karnataka, where bypolls to three crucial assembly segments are due on November 13.

Some farmers in Honwad village in Vijayapura in north Karnataka had alleged last month that they were served eviction notices as the Waqf Board claimed rights over it.

Subsequently, complaints started in pouring in from some other parts of the state.

BJP leader Tejasvi Surya on October 25 alleged that Karnataka Waqf Minister B Z Zameer Ahmed Khan directed the deputy commissioners and revenue officials to register lands in favour of the Waqf Board within 15 days, which resulted in confusion.

On Surya's request, the Chairman of the Joint Committee of Parliament on the Waqf (Amendment) Bill, Jagdambika Pal visited Karnataka on November 7 and met farmers in Hubballi, Vijayapura and Belagavi districts who had alleged that their lands were marked as Waqf properties.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 10,2024

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The media office in the Gaza Strip, where the Israeli regime has been waging a genocidal war since last October, says as many as 188 Palestinian journalists have been killed since the onset of the brutal military onslaught.

The office provided the figure on Saturday, naming four journalists as the most recent victims of the onslaught.

It identified the foursome as Zahraa Mohammad Abu Sukheil, Ahmad Mohammad Abu Sukheil, Mustafa Khadr Bahar, and Abdel Rahman Khadr Bahar.

The office said it “strongly condemns the targeting, killing, and assassination of Palestinian journalists by the Israeli occupation and holds it fully responsible for committing this heinous crime.”

“We call on the international community, international organizations, and those involved in journalistic work worldwide to take action against the occupation, pursue it in international courts for its ongoing crimes, and pressure it to halt the genocide and the targeted killings of Palestinian journalists,” it said.

Earlier in the day, the office said the Israeli regime had bombed the tents sheltering journalists and displaced persons at the al-Aqsa Martyrs' Hospital in the city of Deir al-Balah in central Gaza for the ninth consecutive time.

The atrocity that claimed the lives of two people and injured 26 others came as part of “the genocidal crimes committed by the Israeli occupation army against hospitals, civilians, and displaced persons,” it said.

The media office held the regime and the United States, its biggest ally, as well as other countries aiding the genocide fully responsible for such systematic crimes.

At least 43,552 Palestinians, mostly women and children, have been killed and 102,765 others wounded since the launch of the war that followed a retaliatory operation by Gaza’s resistance groups.

The fatalities include 44 people, who were killed across the coastal sliver, in the most recent phase of the military onslaught.

As many as 24 of the victims were killed in the northern part of the territory, where the regime has markedly intensified its deadly attacks for weeks.

They included an eight-year-old child and a five-year-old one, who lost their lives after Israeli warplanes targeted a group of minors filling up jerry cans with water alongside their mother at the Jabalia Refugee camp.

Gaza’s heath ministry, meanwhile, said a number of victims remained under the rubble and in the streets following Israeli airstrikes, saying ambulances and civil defense teams could not reach them due to the sheer extent of the destruction caused by the raids and obstruction caused by the regime.

Also on Saturday, the Integrated Food Security Phase Classification (IPC) report, a United Nations-backed assessment, warned that famine was looming in northern Gaza amid escalated Israeli aggression and the regime’s near-total siege of the targeted areas.

The alert from the Famine Review Committee warned of "an imminent and substantial likelihood of famine occurring, due to the rapidly deteriorating situation in the Gaza Strip."

On October 17, the body projected that the number of people in Gaza facing "catastrophic" food insecurity between November and April 2025 would reach 345,000, or 16 percent of the population.

The IPC report classified that figure as Phase 5 -- a situation when "starvation, death, destitution, and extremely critical acute malnutrition levels are evident."

The Israeli military, however, questioned the report's credibility.

"To date, all assessments by the IPC have proven incorrect and inconsistent with the situation on the ground," the army said in a statement, denouncing "partial, biased data and superficial sources with vested interests."

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