Here is how much new Twitter CEO Parag Agrawal will be paid
New Twitter CEO Parag Agrawal, who served as head of social networking technology until Jack Dorsey announced his sudden departure on Monday, will receive a $ 1 million annual salary, CNBC reports.
Agrawal, 37, will also qualify for an annual performance bonus worth up to 150% of his salary, which means he can earn up to $ 2.5 million a year. Agrawal has also been given a $ 12.5 million stock price.
Agrawal's salary is a far cry from the $ 1.40 annual salary his predecessor earned in recent years. "Dorsey received a low salary to symbolize his commitment and belief in the long-term potential of creating value for Twitter," the company said in a dossier. He currently has more than $ 12 billion, according to Bloomberg.
Agrawal joined Twitter in 2011 as a software engineer and rose to the task of becoming one of Dorsey's closest partners in shaping the company's future.