Elon Musk has a new Twitter CEO to replace Parag Agrawal

Elon Musk has named a new CEO for Twitter who will replace CEO Parag Agrawal when the social network’s $44 billion sales are completed, Reuters says, citing an unnamed source.

Musk told Twitter Chairman Bret Taylor last month that he has no faith in the management of the San Francisco-based company, which he owns.

When Parag Agrawal was appointed CEO of Twitter in November, he is expected to stay on until the company’s sale to Musk is complete.

The source who told Reuters about Musk’s plans did not say who would be the replacement, the news agency said.

Research firm Equilar says Agrawal could get $42 million if he were fired from the social media company within 12 months of a change of control, which would be a lot of money.

Many people wonder what will happen to him after Tesla and SpaceX CEO Elon Musk takes over the company. Agrawal, for his part, has been very positive about his future at the company.

I took this job to improve Twitter, correct course where we need it, and strengthen the service. Proud of our people who continue to get the job done with focus and urgency despite the noise.

— Parag Agrawal (@paraga) April 27, 2022

Thank you, but don’t feel anything for me. The most important thing is the service and the people who improve it.

— Parag Agrawal (@paraga) April 27, 2022

The CEO, on the other hand, tried to calm down the employees at a company-wide meeting on Friday. They wanted to know how managers were going to deal with a mass exodus caused by Elon Musk.

After Musk continued to complain about Twitter’s content moderation practices, he met with a top executive who is in charge of setting rules for safety and speech.

Reuters heard an internal meeting. The executives said the company would keep track of staff attrition every day, but it was too early to tell how the purchase deal with Musk would affect staff retention.

Musk has told lenders he wants to cut board and executive salaries, but the exact cost cuts are unclear, sources say. As soon as Musk owns Twitter, he won’t be able to cut jobs, a source told Reuters.

“When I hear about shareholder value and fiduciary duty, I don’t want to hear anymore. It is very likely that many people will lose their jobs after the deal closes. What are your honest feelings on this? How did Agrawal respond? A Twitter employee read a question he was asked during the meeting.

Agrawal said that Twitter has always cared about its employees and always will.

From what I know, “I think the future organization of Twitter will still care about how it affects the world and its users.” During the meeting, Agrawal told staff that the company could have done better over the years. He told them to expect change under new leadership.

“The answer is, of course. We could have done things differently and better. I could have done things differently. A lot of times I think about that,” she said.

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