Twitter CEO Parag Agrawal restructuring social media giant's leadership team

Twitter's new CEO Parag Agrawal is shaking up the social media giant's leadership team in an effort to "drive increased accountability, speed, and operational efficiency."

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According to a filing with the Securities and Exchange Commission, Twitter engineering lead Michael Montano and design and research lead Dantley Davis will step down from their positions at the end of the year. Both Montano and Davis will continue to serve in advisory roles through the end of the first quarter of 2022 to ensure an orderly transition.

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Twitter will transition to a general manager model for its Consumer, Revenue and Core Tech divisions, which will be led by Kayvon Beykpour, Bruce Falck and Nick Caldwell, respectively. The general managers will be responsible for leading all core teams across engineering, product management, design and research.

In addition, Lindsey Lannucci has joined the leadership team to serve as chief of staff and vice president of operations to support Agrawal in strengthening operations across the leadership team and the company. 

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On Monday, Twitter co-founder and former CEO Jack Dorsey announced that he would be stepping down and handing over the reins to Agrawal, the company's former chief technology officer, who was unanimously approved by its board of directors. 

"There's a lot of talk about the importance of a company being 'founder led'," Dorsey said in an email to employees shared on Twitter Monday. "Ultimately, I believe that's severely limiting and a single point of failure. I've worked hard to ensure this company can break away from its founding and founders." 

He explained that Agrawal has been his choice for successor for "some time given how deeply he understands the company and its needs," adding that he "has been behind every critical decision that has turned this company around." 

"I want you all to know that this was my decision and I own it. It was a tough one for me, of course. I love this service and company … and all of you so much. I'm really sad … yet really happy." Dorsey's email concluded. "There aren't many companies that get to this level. And there aren't many founders that choose their company over their ego. I know we'll prove this was the right move." 

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Agrawal said in a lengthy statement to employees that he was "honored and humbled" to serve in the role and grateful for Dorsey's mentorship, friendship and leadership as well as the Twitter team. 

"Our purpose has never been more important. Our people and our culture are unlike anything in the world. There is no limit to what we can do together," he continued. "We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right. But our critical challenge is how we work to execute it against and deliver results — that’s how we’ll make Twitter the best it can be for our customers, shareholders, and for each of you." 

Though Dorsey is stepping down from the CEO role, he will remain a member of Twitter's board until his term expires at the 2022 meeting of stockholders. In addition to Agrawal's appointment, Salesforce.com president and chief operating officer Bret Taylor has been named Twitter's chairman of the board.