Twitter's new CEO Parag Agrawal to be replaced after Musk takeover: Reports

FPJ Web Desk | Updated on: Tuesday, May 03, 2022, 10:00 AM IST


Twitter CEO Parag Agrawal has been bombarded with multiple questions regarding layoffs ever since Tesla CEO Elon Musk bought Twitter for $44 billion.

Elon Musk has lined up a new Chief Executive for Twitter who will replace CEO Parag Agrawal once the $44 billion-sale of the social network is complete, news agency Reuters has reported quoting an unnamed source.

Musk told Twitter's chairman Bret Taylor last month that he does not have confidence in the San Francisco-based company's management.

Agrawal is estimated to receive $42 million if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar.

Musk reportedly plans to fire Twitter’s legal head Vijaya Gadde as well, a report from The New York Post revealed. If removed from the position, Gadde is said to get a severance package worth $12.5 million, including Twitter shares. She currently makes about $17 million a year and is one of the highly paid executives at the company.

During the meeting, Agrawal urged staff to expect change in the future under new leadership, and acknowledged that the company could have performed better over the years.

Ever since Musk bought Twitter, employees have been questioning Agrawal if their job is secure or should they look for other options.

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Published on: Tuesday, May 03, 2022, 10:00 AM IST