California: Twitter co-founder and CEO Jack Dorsey confirmed on Monday that he is stepping down from his current executive role with the company effective immediately.

Dorsey announced in an email statement shared on social media that Chief Technology Officer (CTO) Parag Agrawal will replace him as chief executive officer "starting today."

Sharing the news of his exit as CEO, Jack Dorsey tweeted, " not sure anyone has heard but, I resigned from Twitter".

Parag Agrawal, an alumnus of prestigious IIT-Bombay, thanked the outgoing CEO for the support. Agrawal tweeted, " Deep gratitude for @jack and our entire team, and so much excitement for the future. Here’s the note I sent to the company. Thank you all for your trust and support".

With the appointment of Parag Agrawal as CEO of Twitter, silicon valley witnessed the rise of another Indian-origin person as the head of the tech firm. 

In a mail shared on his Twitter handle, Parag Agrawal writes, "Thank you, Jack. I'm honored and humbled. And I'm grateful for your continued mentorship and your friendship. I'm grateful for the service that you built, the culture, soul, and purpose you fostered among us, and for leading the company through really significant challenges. I'm grateful for the trust you've put in me and for your continued partnership....

We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right. But our critical challenge is how we work to execute against it and deliver results - that's how we'll make Twitter the best it can be for our customers, shareholders, and for each of you. I want you to #LoveWhere YouWork and also love how we work together for the greatest possible impact....."

Deep gratitude for @jack and our entire team, and so much excitement for the future. Here’s the note I sent to the company. Thank you all for your trust and support