Parag Agrawal, the chief executive officer of Twitter said on Thursday that he is here when asked about his termination after Elon Musk buys the social media platform. Earlier this week, Musk, the richest man in the world, bought Twitter for $44 billion cash. Talking about his role at Twitter and his team, Agrawal wrote on Thursday, “I took this job to change Twitter for the better, course correct where we need to, and strengthen the service. Proud of our people who continue to do the work with focus and urgency despite the noise.”
The social media platform which emerged as one of the most influential public squares in last one decade, will be wholly owned by the Tesla boss on the completion of the deal.
Twitter CEO and Employees: What Will Happen When Musk Takes Over?
There have been a lot of doubts and questions about how will Tesla boss run the platform once he takes charge of Twitter at the end of this year. The celebrity CEO has been very vocal about how
Will he retain the present CEO and employees or hire a new team? Well, nobody knows what future holds, as of now.
In a virtual meeting with employees post the deal, CEO said that it would take another six months to seal the deal. ‘There are no plans for any layoffs at this point,’ he assured the staff. “Between now and closing … we will continue making decisions as we’ve always had, guided by the principles we’ve had,” he further added.
This is a Period of Uncertainty: Twitter CEO
Twitter CEO told his employees earlier that this is a period of uncertainty after the social media platform had accepted Musk’s buyout proposal. “Once the deal closes, we don’t know which direction the platform will go,” he further added.
Twitter CEO to Get $42 million if Fired in a Year
According to Reuters, CEO Parag Agrawal would get $42 million if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar. The amount includes a year’s worth of Agrawal’s base salary plus accelerated vesting of all equity awards, an Equilar spokesperson said based on Musk’s offering price of $54.20 per share.
Elon Musk Wants to Make Twitter Better
Musk who refers himself as ‘free speech absolutist’, has said that Twitter needs to be taken private to become an ultimate platform for free speech. To unlock its ‘potential’, Musk earlier offered $54.20-per-share deal to buy the micro-blogging site. Twitter board agreed to sale it to Elon Musk for the amount he had proposed. “By ‘free speech’, I simply mean that which matches the law. I am against censorship that goes far beyond the law,” Musk explained after the deal.
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