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Jack Dorsey has stepped down as CEO of Twitter and passed the baton to the relatively unknown executive Parag Agrawal.
The company currently faces a host of challenges, including slow growth in its user base as competitors like TikTok and Instagram lure away younger demographics, as well as continuing struggles with misinformation and hate speech.
Agrawal is expected largely to pick up where Dorsey left off, continuing to fight for users being lured away by competitors like TikTok and Instagram, said Jill Wilson, the chief marketing officer for Esquire Digital.
Dorsey had simultaneously been serving as CEO of the social media platform and as CEO of his payments processing company Square but will now focus primarily on Square as well as other pursuits such as philanthropy, Reuters reports.
However, shares in the company have slumped in recent months, adding pressure on Dorsey to end his unusual arrangement of being CEO of two companies.
Agrawal has already had a fast introduction to life as CEO of a central platform for political speech.
As some Twitter users pointed out, the 11-year-old tweet was quoting a segment on The Daily Show, which was referencing the firing of Juan Williams, who made a comment about being nervous about Muslims on an airplane.
Agencies contributed to this report
