When co-founder Jack Dorsey abruptly left Twitter Inc., Parag Agrawal assumed the position of CEO. As Elon Musk completes his $44 billion bid to acquire the social network, Chief Executive Officer Parag Agrawal is among the executives who plan to leave, according to sources familiar with the situation.
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. Musk’s arrival made it obvious that Parag Agrawal was not likely to be retained in his position. “I have little faith in management, “In an early filing, Musk made comments about the deal, and the two CEOs then traded barbs in front of the public. In May, Elon Musk tweeted a feces emoji in response to Agrawal’s Twitter thread defending the company’s user metrics.
The two men engaged in a heated argument early in the sale process when Musk questioned his followers if Twitter was “dying,” according to text conversations revealed during the litigation.”
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.”
The following week, in messages with a friend, Musk mocked Agrawal for being on vacation in Hawaii during deal negotiations. “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, a dependable friend of Jack Dorsey’s, and Agrawal’s reconciliation efforts after the deal was announced also failed. Fortunately, it became apparent that you can’t collaborate, “Following a conference call, Dorsey texted Musk. “That made things clearer.”
Agrawal won’t be going away without anything. According to a document, the CEO’s unvested equity rewards will fully vest as part of the agreement. According to research firm Equilar’s estimate, he will earn almost $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.”
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Gadde experienced a wave of online harassment earlier this year when Musk openly criticized 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.
