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As termination looms, Parag Agrawal reveals why he took on the Twitter CEO role

Elon Musk in a securities filing on April 14 said he did not have confidence in Twitter's management.

April 28, 2022 / 09:17 AM IST
Parag Agrawal took over as CEO of Twitter in November last year.

Parag Agrawal took over as CEO of Twitter in November last year.


Twitter chief executive Officer (CEO) Parag Agrawal has said that he took on the CEO role to strengthen the services of the microblogging site and change it for the better.

Agrawal, in a tweet on April 28, lauded the employees who continued to work with focus “despite the noise” around Elon Musk's takeover of the social media portal.

"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," he tweeted.

Agrawal, an alumnus of IIT-Bombay, will reportedly receive an estimated $42 million if he were terminated within 12 months of a change in control at the social media company.

On April 25, billionaire Musk struck a deal to buy Twitter for $44 billion, ending its run as a public company since 2013.
Musk in a securities filing on April 14 said he did not have confidence in Twitter's management.

Close

The Tesla CEO will have to pay Twitter a fee of $1 billion if the billionaire terminates his cash deal for the social media company, Twitter said in a filing on April 26.

The filing also disclosed that the deal could be terminated if not closed by October 24. The date could be extended for another six months to meet certain closing conditions such as antitrust and foreign investment clearances.



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Moneycontrol News
first published: Apr 28, 2022 09:17 am
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