Parag Agrawal is the new CEO of Twitter.

Twitter co-founder and Chief Executive Officer Jack Dorsey shocked the entire world by resigning from his role on Monday evening. While speculations of Dorsey stepping down were making rounds on the internet since Sunday, post his 'I love Twitter' tweet, the 45-year-old shared a screenshot of the resignation letter he sent to the company and wrote, "not sure anyone has heard but, I resigned from Twitter."

Dorsey, who managed the company for nearly 16 years, stated "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," as one of the key reasons for stepping down from his position.

Furthermore, he was all praise for Parag Agrawal, who has been announced as the next CEO of Twitter. "He leads with heart and soul and is someone I learn from daily. My trust in him as our CEO is bone-deep," Dorsey wrote in his resignation mail. Meanwhile, Agarwal shared his excitement on social media by tweeting a message along with a screenshot of the mail he sent to Dorsey and the team. "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," he wrote.

Tesla and SpaceX founder Elon Musk joined the banter too by joining the celebration of Agrawal's appointment as the new Twitter CEO. "USA benefits greatly from Indian talent," Musk replied to a tweet that talked about how top tech companies like Microsoft, Google and others are managed by Indian CEOs.

An avid Twitter user, Musk, who enjoyed a historic 2021, went on to earn the title of the richest man in the world by becoming the first person on this planet to surpass the $300 billion mark. While he climbed the ladder of success, he used the Twitter platform to take direct jibes at his adversaries. And Musk's recent social media spat with US Senator Bernie Sanders did grab a lot of attention.