Elon Musk takes over Twitter and dismisses top officials, including the CEO Parag Agarwal: Report

When co-founder Jack Dorsey abruptly quit in November, Parag Agrawal took over as CEO.

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According to people familiar with the matter, Elon Musk’s CEO of Twitter Inc., Parag Agrawal, is one of the executives expected to leave as part of the $44 billion deal to acquire the social network.

According to people familiar with the situation who asked to remain anonymous due to the nature of the information, Vijaya Gadde, the head of legal, policy, and trust, Chief Financial Officer Ned Segal, who joined Twitter in 2017, and Sean Edgett, who has been general counsel at Twitter since 2012, are also leaving.

A request for comment from Twitter did not immediately receive a response.

In November, Agrawal took over as CEO when co-founder Jack Dorsey abruptly announced his resignation. Agrawal has worked at Twitter for almost ten years, most recently serving as its chief technology officer. Musk’s entry as a significant stakeholder and an outspoken critic of the company’s current leadership, however, quickly ended Agrawal’s tenure as CEO.

Musk’s arrival made it obvious that Agrawal was not likely to be retained in his position. In an early filing on the deal, Musk stated, “I don’t have confidence in management,” and the two executives traded public jabs. In May, Elon Musk tweeted a faeces emoji in response to Agrawal’s Twitter thread defending the company’s user metrics.

The two men engaged in a heated debate early on in the negotiation process after Musk queried his followers about whether Twitter was “dying” in text messages that were made public as part of the lawsuit.

Agrawal confronted him via text. “You are free to tweet ‘is twitter dying?’ or anything else about Twitter,” he wrote on April 9, “but it’s my responsibility to tell you that it’s not helping me make Twitter better in the current context.” Musk fired back, “What did you get done this week?” And then: “I’m not joining the board this is a waste of time.”

Musk made fun of Agrawal for being on vacation in Hawaii during deal negotiations the following week in messages to a friend. “Shouldn’t he be in a war room right now?!?” investor Jason Calacanis messaged Musk. “Does doing occasional zoom calls while drinking fruity cocktails at the Four Seasons count?” Musk replied.

Musk is a longstanding friend of former Twitter CEO Jack Dorsey, and attempts by Musk to make amends with Agrawal after the acquisition was revealed also failed. After a conference call, Musk received a message from Dorsey saying, “At least it became evident that you can’t work together.

Agrawal will not go away empty-handed. The CEO’s unvested equity rewards will fully vest as part of the agreement, per a filing. According to the research firm Equilar, he will likely earn around $42 million, according to Reuters.

Gadde has been in charge of establishing and enforcing standards for hundreds of millions of internet users, including famous users who are immune from stricter content restrictions under the company’s exemptions for noteworthy posts or communications from world leaders. Musk has pledged to make Twitter a less censorship-heavy platform for free speech after purchasing it, a change he has called “vital to a functioning democracy.”

Gadde experienced a wave of online harassment earlier this year when Musk openly criticised Twitter’s content-related choices. Following the assault on the Capitol by supporters of former US president Donald Trump in January 2021, the corporation permanently banned him. Many people anticipate that Musk will reinstate Trump’s account and other users who have been suspended for violating policies on offensive or harmful content based on his comments before he bought the social media firm.