After placing the deal to purchase Twitter for a whopping $44 billion, Tesla founder and chief Elon Musk already has the micro-blogging web site’s CEO Parag Agrawal’s successor lined up for as soon as the sale goes by, in response to a latest Reuters report quoting an unnamed supply. Final month, Musk had instructed Twitter’s chairman Bret Taylor that he doesn’t believe in Twitter’s present administration.
Agrawal, alternatively, has been the CEO of Twitter for lower than a 12 months. He was appointed in November 2021 after Jack Dorsey give up as CEO. Agrawal is anticipated to stay because the CEO of the agency till the $44 billion sale of the social community goes by.
The supply who instructed Reuters about Musk’s plans didn’t reveal the id of the substitute, the information company reported.
Based on analysis agency Equilar, Agrawal is anticipated to pocket $42 million if he have been terminated inside 12 months of a change in management at Twitter.
Amid uncertainty concerning his future at Twitter, Agrawal has sought to quell worker anger final Friday throughout a company-wide assembly the place staff demanded solutions to how managers deliberate to deal with an anticipated mass exodus prompted by Elon Musk.
The assembly was held after Musk repeatedly criticized Twitter’s content material moderation practices and a prime government accountable for setting speech and security insurance policies.
On the inner city corridor assembly, executives stated the corporate would monitor employees attrition day by day, nevertheless it was too quickly to inform how the buyout take care of Musk would have an effect on employees retention, Reuters additional reported.
Individually, Musk has additionally pitched lenders on slashing board and government salaries however actual value cuts stay unclear, in response to sources aware of the matter. One supply stated Musk wouldn’t make selections on job cuts till he assumes possession of Twitter.
In the meantime, one Twitter worker, in a query learn aloud in the course of the assembly, requested Agrawal, “I am bored with listening to about shareholder worth and fiduciary obligation. What are your trustworthy ideas in regards to the very excessive chance that many staff won’t have jobs after the deal closes?” one Twitter worker requested Agrawal, in a query learn aloud in the course of the assembly.
Agrawal answered that Twitter has all the time cared about its staff and would proceed to take action.
“I imagine the longer term Twitter group will proceed to care about its impression on the world and its prospects,” he stated.
(With inputs from Reuters)
Additionally learn: Twitter CEO Parag Agrawal faces employee anger over Musk attacks