Elon Musk may become temporary CEO of Twitter after $44 billion deal closes
India Today
A report had previously claimed that Musk has lined up a new CEO but he will only shake up the management only after the $44 billion deal closes.
Elon Musk, who is currently the CEO of Tesla, might become the CEO of Twitter as well, albeit temporarily. This means that Musk is planning to let go of the current CEO of Twitter, Parag Agrawal, who assumed the position only five months ago. However, Musk will only be the next CEO once the $44 billion deal closes. The information was shared by CNBC’s David Faber.
Post Jack Dorsey’s exit from the company, Agrawal became the new CEO of Twitter in November last year. During a townhall meeting, Agrawal had said that the company’s future is uncertain under Musk’s leadership. A Reuters report had previously claimed that Musk has lined up a new CEO but he will only shake up the management only after the $44 billion deal closes. Former Twitter CEO Jack Dorsey may also be considered for the role, as per reports. Musk is also planning to cut jobs to increase the revenue of the company, he had apparently told the banks, who invested in Twitter.
The employees are scared about their future in Twitter now that Musk has taken over but he remains unfazed by the concerns of people. During the Met Gala event, Musk was asked about a potential exodus of employees, to which he said he is fine if people, who are not comfortable want to leave the company. "Certainly if anyone doesn't feel comfortable with that, they will on their own accord, go somewhere else. That's fine," he added.
Agrawal, who may lose his job soon, had previously said that he is not concerned about his trie but the future of the company. "Thank you but don't feel for me. What matters most is the service and the people improving it,” Agrawal said in his response to tweet.Previously, responding to another user about him being fired, Agrawal highlighted, "Nope! we're still here."
However, if Musk fires Agrawal within 12 months of a change in control at Twitter, he will have to pay him $43 million. Another important Twitter executive, who may lose her job soon is the company’s legal head, Vijaya Gadde. Gadde was targeted by Musk on Twitter. She was subjected to incessant trolling, was abused on Twitter after Musk’s tweet against her went viral. Gadde too like Agarwal would get a severance package worth $12.5 million, including Twitter shares if she is removed from the position.
