Twitter CEO Parag Agrawal said that regardless of the company’s future ownership, his team was working to improve the social network for all stakeholders.
Kayvon Beykpour, Twitter’s head of product, was told by Parag Agrawal that he wanted to take the team in a different direction. Meanwhile Bruce Falack, Twitter’s general manager of revenue, also confirmed that he had been removed from his position.
Parag Agrawal also said in the memo, which was seen by Reuters, that Twitter would pause most hiring and review all existing job offers to determine whether any "should be pulled back."
It is a period of uncertainty ahead for Twitter’s staff till the company closes the deal with Elon Musk.
Elon Musk in a securities filing on April 14 said he did not have confidence in Twitter's management.
Twitter users are speculating about Parag Agrawal's future with the company after Elon Musk's takeover.
Twitter has confirmed a $44 billion sale agreement with Elon Musk. The deal is expected to be closed before the end of 2022.
On Monday billionaire Elon Musk struck a deal to buy Twitter for $44 billion, ending its run as a public company since 2013.
The remarks by Agrawal, who took over the helm of the social networking giant just five months ago, came during a meeting with Twitter employees on Monday afternoon after the company said it had accepted Musk's offer to buy it for about USD 44 billion.
Twitter founder Jack Dorsey was responding a tweet by a user who commented on Twitter board's history being mired in plots and coups, particularly amongst the founding members.
Concerns over what Musk could bring to the table outweigh the business positives that may be in store for the microblogging platform
Billionaire Elon Musk has offered to buy Twitter for $43 billion, saying that he could unlock the platform’s “extraordinary potential”.
CEO told staff that the board was continuing to review Musk's offer, but that he was limited in what he could share with the employees.
Although Elon Musk has been uncharacteristically silent after Twitter CEO Parag Agrawal announced that the tech billionaire has decided not to join its board, here is a list of the "significant improvements to Twitter" Musk wanted to make:
Indian Twitter users' reaction to the news has made Elon Musk's decision -- to drop out of the board on the day his appointment became official -- all too relatable.
According to Twitter CEO Parag Agrawal, Elon Musk would have been appointed to the board "contingent on a background check". Twitter users have been wondering if it was the background check which was the deal breaker.
"Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here," Parag Agrawal said on Twitter.
While Agrawal didn't mention why Tesla CEO refused to take the board seat, he noted that Musk remains the largest shareholder of Twitter, and the company will remain open to his input.
Elon Musk was welcomed to Twitter's board by the platform's founder Jack Dorsey and Indian-origin CEO Parag Agrawal.
Musk, a billionaire who is chief executive officer of Tesla Inc., filed a form 13D with the U.S. Securities and Exchange Commission on Tuesday, disclosing a stake of 9.1%. The new filing indicates that Musk plans to take an active role in shaping Twitter’s agenda. The form he used on Monday, a 13G, is reserved for investors who plan to be passive.
Twitter had first teased the news about an edit feature on April Fools Day last week, leading users to believe it was a joke.
Elon Musk is known to be a prolific meme maker himself. In fact, he had famously said in 2020, "Who controls the memes, controls the universe."
Twitter founder Jack Dorsey on Tuesday announced that billionaire Elon Musk is joining the board of the micro-blogging site.
Elon Musk tweeted: “Looking forward to working with Parag and Twitter board to make significant improvements to Twitter in coming months!”
Elon Musk, 50, is the largest shareholder in Twitter with 9.2 percent stake that he acquired on Monday.