Twitter Takeover | Elon Musk Prepares To Replace Parag Agrawal With New CEO: Report

Addressing the employees, he added, “I believe the future Twitter organisation will continue to care about its impact on the world and its customers.”

(From Left) Elon Musk & Parag Agrawal

Source : AFP

New Delhi: After the hostile takeover of Twitter by Elon Musk, the uncertainty over the future of employees has become more than obvious as Musk has reportedly chosen another CEO for the company who will replace current CEO Parag Agrawal, sources told News agency Reuters. As per the report, the change will take place after the $44 billion deal is closed. 

Musk told Chairman Bret Taylor last month that he does not have confidence in the company’s management. 

Agrawal was appointed as the CEO in November last year and is expected to remain in the position till Musk’s takeover. According to a research firm Equilar, he is estimated to be paid $42 million if he is terminated within 12 months of a change. 

As per Reuter’s source, Musk has chosen someone to replace Agrawal. But they declined to name the replacement. 

Along with Agrawal, Twitter’s legal head Vijaya Gadde is also expected to be replaced, The New York Post reported. 

Meanwhile, as the Twitter employees are speculating a job loss when the deal closes, Agrawal is at the centre of the questions of the uncertainties. While the employees ask Agrawal if they will lose their jobs, he seems to have maintained his confidence along with the progress of the deal. 

“I'm tired of hearing about shareholder value and fiduciary duty. What are your honest thoughts about the very high likelihood that many employees will not have jobs after the deal closes?" an employee asked Agrawal in an internal town hall meeting which was heard by Reuters. 

Agrawal responded to the question by saying that Twitter has always cared about its employees and would continue to do so.  

"I believe the future Twitter organisation will continue to care about its impact on the world and its customers," he said.

Addressing the employees, he added, “I believe the future Twitter organisation will continue to care about its impact on the world and its customers.”