"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," Parag posted on Twitter thanking Jack Dorsey.
"The world is watching us right now, even more than they have before. Lots of people are going to have lots of different views about today's news. It is because they care about Twitter and our future, and it's a signal that the work we do matte. Let's show the world Twitter's full potential," he further added.
Parag expressed his gratitude towards Jack Dorsey for his mentorship and friendship.
Parag, aged 37, is an alumnus of the Indian Institute of Technology Mumbai where he did his Bachelors in Engineering in computer science. He moved to the US for further studies, with his doctorate coming from Stanford University based in California.
Further, Parag joined Twitter in 2011. Before that, he briefly worked at Microsoft, AT&T, and Yahoo. In all three companies, his work was mostly research-oriented. Initially, at Twitter, he worked on ad-related products, but gradually he also dabbled in artificial intelligence.
Earlier, Dorsey announced that he was resigning as CEO of Twitter and that Agrawal was replacing him.
"Parag has been behind every critical decision that helped turn this company around. He's curious, probing, rational, creative, demanding, self-aware, and humble," Dorsey posted on his Twitter account.
Earlier, Twitter was created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in March 2006 and launched in July of that year which went on to become one of the accompanied technology entrepreneurs. Dorsey will stay on the board of the San Francisco-based company until his term expires in 2022.