Parag Agrawal, who has recently been named as the CEO of microblogging platform Twitter, will receive an annual salary of USD 1 million along with other perks and bonuses.
The India-born executive – who succeeds Jack Dorsey in this role – served as Twitter’s Chief Technology Officer since 2017, and has been responsible for the company’s technical strategy.
He joined the company in 2011 as a software engineer, leading efforts on scaling Twitter Ads systems, as well as reaccelerating audience growth by improving Home timeline relevance.
“…Agrawal will receive an annual salary of USD 1,000,000 and will continue to be a participant in the company’s executive bonus plan with a new target bonus of 150 per cent of his annual base salary. Under the terms of the Offer Letter, in December 2021, the Board will grant to Agrawal restricted stock units (RSUs) with a grant date face value of USD 12,500,000,” a regulatory filing by Twitter to the US SEC, said.
Agrawal will be entitled to restricted stock units (RSUs) worth USD 12.5 million, vested in 16 equal quarterly increments beginning February 2022. He had received RSU earlier this year too.
Agrawal, 37, holds a PhD in computer science from Stanford University. He completed his BTech in computer science and engineering from IIT-Bombay.
During his career, Agrawal has also been involved in research for Microsoft between 2006 and 2009, as well as Yahoo. Before joining Twitter over a decade back, he also did a short stint with AT&T Labs in 2010.
On social media, Agrawal expresses his gratitude to Dorsey and his excitement for the future.
Dorsey resigned after 16 years of serving the Company, of which he is a co-founder. His social-media posts reveal that Agrawal was a unanimous choice for CEO because of his deep understanding of the Company and its needs. He is open about his appreciation for Agrawal’s creativity, curiosity, self-awareness, probing nature and humility.