Parag Agrawal may be changed after Elon Musk completes the acquisition of Twitter.
Twitter’s new proprietor Elon Musk will reportedly line up a brand new Chief Executive to exchange CEO Parag Agrawal after the $44 billion-sale of the social community is full. News company Reuters has reported an unnamed supply stating the identical. However, the supply has not revealed the identify of the one who might exchange Agrawal. Parag Agrawal, had joined Twitter as Chief Executive in November and is anticipated to stay in his put up until Musk fully takes over the company. Agrawal will obtain a major compensation bundle of $42 million if he have been terminated inside 12 months of a change in management on the social media company as per the clause talked about in his contract.
Musk is reportedly planning to make some daring adjustments to make Twitter a spot of “maximum fun.” Earlier, the billionaire informed Twitter chairman Bret Taylor that he doesn’t have faith within the company’s administration.
However, even as experiences of Parag Agrawal’s substitute as the Twitter CEO following the hostile takeover by the Tesla and SpaceX boss is doing the rounds on the web, Agrawal has appeared assured in his future on the company. He tweeted, “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.”
Meanwhile, Agrawal sought to quell anger voiced by staff throughout a company-wide meeting the place they demanded solutions on how managers deliberate to deal with an anticipated mass exodus prompted by Elon Musk. The inside city corridor meeting was held after Musk repeatedly criticised Twitter’s content material moderation practices and a high government answerable for setting speech and security insurance policies.
Reuters has shared that the executives mentioned the company would monitor employees attrition every day, however it’s too quickly to inform how the buyout take care of Musk would have an effect on employees retention.
Musk has pitched lenders on slashing board and government salaries however precise price cuts stay unclear. One of the sources knowledgeable Reuters that Musk wouldn’t make choices on job cuts till he assumes possession of Twitter.
Meanwhile, replying to one of many worker’s tweets, Agrawal mentioned that Twitter has all the time cared about its employees and would proceed to accomplish that.”I imagine the long run Twitter group will proceed to care about its affect on the world and its clients,” he wrote, after an worker requested his trustworthy ideas on the very excessive probability that many staff won’t have jobs after Musk closes the deal.