Elon Musk takes over Twitter and fires Twitter CEO Parag Agrawal and policy chief Vijaya Gadde. Let’s see Why did Elon Musk fired Twitter CEO, Parag Agrawal in detail
Overview
Parag Agrawal, the chief executive who sought to court to hold the billionaire to the terms of a pact he tried to elude, has been fired by Musk.
Additional departures include chief legal, policy, and trust officer Vijaya Gadde, chief financial officer Ned Segal, who joined Twitter in 2017, and general counsel Sean Edgett, who has served as Twitter’s general counsel since 2012.
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022
Elon Musk has taken over as Twitter’s CEO
After more than six months of public and legal battling over the deal, Elon Musk has assumed control of Twitter and completed his $44 billion acquisition of the social media platform.
One of Musk’s first actions was a leadership reshuffle. Parag Agrawal, the top executive who went to court to hold the billionaire to the terms of a pact he tried to elude, was sacked by him.
🇺🇸💕 pic.twitter.com/CbFro8gMy7
— UNITED STATES OF AMERICA 🇺🇸 (@USA2224) October 28, 2022
Additional departures include chief legal, policy, and trust officer Vijaya Gadde, chief financial officer Ned Segal, who joined Twitter in 2017, and general counsel Sean Edgett, who has served as Twitter’s general counsel since 2012.
Edgett required an escort to leave the structure. Twitter will now be a private corporation and shareholders will receive $54.20 per share. The accomplishment brings to an end a complex process that started in January.
Why did Elon Musk fire Twitter CEO, Parag Agrawal?
In November, Agrawal took over as CEO when co-founder Jack Dorsey abruptly announced his resignation. Agrawal has been with Twitter for ten years, most recently serving as its chief technical officer. Musk’s entry as a significant stakeholder and an outspoken critic of the company’s current leadership, however, quickly ended Agrawal’s tenure as CEO.
Musk’s arrival made it obvious that Agrawal was not likely to be retained in his position. In an early filing on the deal, Musk stated, “I don’t have faith in management,” and the two executives traded public jabs. In May, Musk responded with a poop emoji to a thread on Twitter started by Agrawal defending the company’s user metrics.
The two men engaged in a heated debate early on in the negotiation process after Musk queried his followers about whether Twitter was “dying” in text messages that were made public as part of the lawsuit.
He was confronted by Agrawal via SMS. Also, he wrote on April 9: “You are allowed to tweet ‘is Twitter dying?’ or anything else about Twitter, but I must warn you that it’s not helping me make Twitter better in the current environment. What did you accomplish this week, Musk retorted. I’m not joining the board; it’s a waste of time, he continued.
Musk made fun of Agrawal for being on vacation in Hawaii during agreement discussions the next week in messages to a buddy.
He ought to be in a war room right now, right? Jason Calacanis, an investor, texted Musk. Does making sporadic zoom calls while consuming fruity cocktails at the Four Seasons qualify? Musk answered.
Musk, a dependable friend of Jack Dorsey’s, and Agrawal’s reconciliation efforts after the deal was announced also failed. After a conference call, Dorsey messaged Musk, saying, “At least it became evident that you can’t work together.”
“That made everything 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.”
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.
At Twitter headquarters’ coffee bar, @elonmusk pic.twitter.com/vy5Cw7zttf
— Walter Isaacson (@WalterIsaacson) October 27, 2022
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
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Lavanya (Senior Editor) is a full-time content writer with almost 5 years of experience and a part-time teacher. She joined Medico Topics on the Breaking News trainee scheme in 2022 and now works on MedicoTopics.com. As a lifelong learner, She is constantly curious about learning new things and passionate about sharing knowledge with people through her writing and teaching.