Parag Agrawal joined Twitter in 2011.
Twitter Inc.’s new CEO Parag Agrawal is currently the youngest CEO in the S&P 500, but it seems to be barely enough.
Agrawal, who was appointed Monday to succeed Twitter founder and CEO Jack Dorsey, 37, the same age as Meta Platform Inc CEO Mark Zuckerberg. Citing security concerns, Twitter will not reveal Agrawal’s date of birth, but confirmed that he was born later in 1984 than Zuckerberg’s May 14 birthday. Dorsey, at 45, is already among dozens of the youngest CEOs in the largest set of American companies.
“I don’t think age is a big deal, especially for companies like this,” said David Larcker, a professor at the Stanford Graduate School of Business who studies CEO performance. That can be an advantage.” “The fact that Dorsey has stepped down from the board, so he won’t look like a shadow CEO, he has to have real faith in him.”
The CEO of Berkshire Hathaway Inc. Warren Buffett, is the oldest executive in the S&P 500 at 91 years old, according to data compiled by Bloomberg. The data shows that the average age of a CEO among the 500 largest companies is around 58 years old. But the broader trend in CEO age is still not in favor of young people. Data on S&P 500 companies measured by executive employer Spencer Stuart over the past two decades shows a small but steady increase in CEO age.
Agrawal joined Twitter in 2011. Dorsey will stay on the San Francisco-based company’s board until his term expires in 2022, Twitter said Monday in a statement. Agrawal will also join the board, where he will also be an exceptional statistician. The average age of an S&P 500 director is 63, according to Spencer Stuart.
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