Twitter`s co-founder Jack Dorsey on November 29 announced that he has stepped down from the role of the microblogging site`s chief executive officer. Parag Agrawal, the company`s chief technology officer, will replace Dorsey immediately. Agrawal is an alumnus of the Indian Institute of Technology-Bombay. Dorsey said that there were three reasons why he chose to resign. He said that it was because Agrawal was taking his place. Entrepreneur Bret Taylor is becoming a member of the board. The third reason was the people who had the potential to change the course of the company. Indians across the globe had a field day when Agarwal was appointed as the new CEO. Reacting to the news, Elon Musk said in a tweet that the USA benefits greatly from Indian talent. Parag Agrawal has become the fourth Indian to run a Silicon Valley company. Agrawal has joined the league of Microsoft CEO Satya Nadella, Alphabet and Google CEO Sundar Pichai, Adobe President and CEO Santanu Narayan, and IBM Group CEO Arvind Krishna. 37-year-old Agrawal is also one of the youngest CEOs, who graduated from India`s premier engineering college, IIT Mumbai. He did his bachelor`s in engineering in computer science from IIT. Later, Agrawal attained his post-graduation degree from Stanford University. Before Twitter, he was associated with companies including Microsoft, AT&T, and Yahoo.