Two Twitter Executives 'Sacked' By CEO Parag Agrawal, Hiring Suspended Amid Musk Takeover
The decision of leadership change was taken as Twitter was not able to achieve user growth and revenue milestones to maintain confidence in achieving the target set for itself in 2020.
New Delhi: In a major organisational shake-up, two senior Twitter executives heading the consumer and revenue divisions will exit the company, informed chief executive officer Parag Agrawal on Thursday in a memo. The development comes after billionaire Elon Musk announced acquisition of the social media giant for $44 billion, but it still needs the approval of shareholders and regulators.
Sharing details about the leadership changes, Agrawal stated in the memo that Twitter would suspend most hiring besides reviewing all existing job offers to gauge whether any "should be pulled back," reported news agency Reuters
The decision of leadership change was taken as Twitter was not able to achieve user growth and revenue milestones to maintain confidence in achieving the target set for itself in 2020, said the report.
"We need to continue to be intentional about our teams, hiring and costs," Agrawal wrote. The company has targeted $7.5 billion in annual revenue and 315 million daily users by the end of 2023, but these goals were retracted in its recent earnings report.
Who are the leaders to quit Twitter?
Kayvon Beykpour, who led Twitter's consumer division, and Bruce Falck, who looked after revenue, both took to Twitter on Thursday hinting that the departures were not their decisions.
"Parag asked me to leave after letting me know that he wants to take the team in a different direction," Beykpour tweeted, adding he was still on paternity leave from Twitter.
The truth is that this isn’t how and when I imagined leaving Twitter, and this wasn’t my decision. Parag asked me to leave after letting me know that he wants to take the team in a different direction.
— Kayvon Beykpour (@kayvz) May 12, 2022
"I'll clarify that I too was fired by (Parag)," Falck said, even as the tweet appeared to have got deleted later.
However, Falck thanked his team and changed his bio to say "unemployed."
"We were able to achieve the results we did through your hard work - quarterly revenue does not lie. Google it," he said.
Meanwhile Jay Sullivan, who was heading the consumer unit during Beykpour's leave, will now take over as the permanent head of the division. Sullivan will also oversee the revenue team until a new leader is named, Agrawal said in the memo.
While no layoffs are planned, Agrawal said Twitter will reduce its spending on contractors, travel and marketing as well as its real estate footprint.
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