Sci-Tech
Tuesday Nov 30 2021
By
BDBusiness Desk

New Twitter CEO Agrawal is youngest in S&P 5OO

By
BDBusiness Desk
Twitters new CEO Parag Agrawal. — Twitter/@disclosetv
Twitter's new CEO Parag Agrawal. — Twitter/@disclosetv

  • Twitter confirms that Agrawal was born later in 1984 as compared to Zuckerberg, who was born on May 14 the same year.
  • According to Bloomberg, Berkshire Hathaway Inc. CEO, Warren Buffett, is the oldest CEO in the S&P 500 at 91. 
  • Agarwal was appointed on Monday to succeed Twitter founder and CEO, Jack Dorsey, following his resignation.


Newly appointed Twitter Inc.’s Chief Executive Officer Parag Agrawal is now the youngest CEO in the S&P 500, Bloomberg reported on Tuesday.

Agrawal, 37, was appointed on Monday to succeed Twitter founder and CEO Jack Dorsey and is the same age as Meta Platform Inc CEO Mark Zuckerberg. 

Due to security concerns, Twitter wouldn’t disclose Agrawal's date of birth, however, the social media platform confirmed that he was born later in 1984 than Zuckerberg’s May 14 birthday. 

Per Bloomberg, Dorsey, at 45, was already among the dozen youngest CEOs in the collection of the largest US companies.

A professor at the Stanford Graduate School of Business David Larcker said: “I don’t think the age thing is that big of a deal, especially for companies like this. It could be an advantage."

“The fact that Dorsey is stepping down from the board, so he’s not going to be like a shadow CEO, he must have real confidence in him.”

According to data compiled by Bloomberg, Berkshire Hathaway Inc CEO Warren Buffett, is the oldest CEO in the S&P 500 at 91. 

The date showed that the average age of a CEO among the 500 largest companies was about 58 years, however, the broader trend in CEO age still doesn’t favour youth. 

Meanwhile, data on S&P 500 companies measured over the last two decades by executive recruiter Spencer Stuart shows a small but steady increase in the age of the CEO.

The newly appointed CEO had joined Twitter in 2011. Meanwhile, the former CEO Dorsey will remain on the board of the San Francisco-based company until his term expires in 2022, Twitter said Monday in a statement. 

Agrawal is also joining the board, where he will also be a statistical outlier. The average age of an S&P 500 director is 63, according to Spencer Stuart.