Following the announcement by Jack Dorsey to step down as Twitter's CEO, stock price of the social media platform surged by 4.82 percent in the intra-day trading at the New York Stock Exchange.
The stock was trading up 4.82% at $49.34 apiece at 9:45 pm (IST) on November 29.
Twitter's share price was at $47.07 earlier on November 29, but surged soon after Dorsey's announcement of leaving the social media platform.
The company's board has unanimously appointed company's Chief Technology Officer Parag Agrawal as his successor.
not sure anyone has heard but,
I resigned from Twitter pic.twitter.com/G5tUkSSxkl— jack️ (@jack) November 29, 2021
Agarwal joined Twitter in 2011 and was appointed as the company's CTO in 2017. Prior to joining Twitter, Agarwal was has been a part of top US companies including Yahoo, Microsoft and AT&T Labs.Apart from Agarwal, Twitter board also announced that Bret Taylor -- a member of the company's Board since 2016 -- will be an Independent Chair of the Board with immediate effect.