Elon Musk Fires Twitter CEO Parag Agrawal

Elon Musk Fires Twitter CEO Parag Agrawal: Tesla CEO Elon Musk fired Twitter CEO Parag Agrawal, who has been with the company since 2008. Musk then named three new general managers. These executives are Kayvon Beykpour, Bruce Falck, and Jay Sullivan. Jay Sullivan, who tweeted about the fire, has since deleted the tweet. Twitter general counsel Brian Poliakoff confirmed the memo but declined to comment on the changes.

Agrawal was originally from India and studied at the Indian Institute of Technology Bombay and Stanford University. He earned a PhD in computer science in 2012 and joined Twitter as a graduate student. He was paid $1 million a year, with a potential bonus of $1.5 million. Agrawal’s compensation includes his base wage, bonuses, and accelerated vesting of all Twitter equity awards. His net worth is now estimated to be $26 million. Considering Musk’s intentions to take the company private, Agrawal’s compensation is expected to vest quickly.

Agrawal’s tenure at Twitter was turbulent. His tenure as CEO was disrupted by Musk’s arrival as a major shareholder. The two have been public antagonists in recent months, and Musk has publicly criticized Agrawal. In May, Musk replied to a tweet from Agrawal with a poop emoji.

Twitter is currently struggling to attract the most active users. Less than 10% of its monthly users are “heavy tweeters.” But these tweeters contribute to over 90% of the company’s global revenue. Elon Musk had stated earlier this year that he would reverse the ban on Trump after the attack on the U.S. capitol. But the president-elect has since said he will not return to Twitter and has launched his own social networking app.

After Elon Musk announced that he would become the largest shareholder at Twitter, he publicly met with the company’s leadership team and board of directors. Despite this, Twitter’s board may not easily bend to Musk’s whims. It may choose to turn to other offers, or take a “poison pill” to repel a hostile takeover.

Twitter is looking for a new CEO after a short-lived Parag Agrawal was fired by Musk. While Elon Musk may be an eccentric tech billionaire, his experience with rockets and electric cars does not translate to building a super app. Adding Twitter to his portfolio would require him to develop a new strategy for the company. However, he has publicly criticised Twitter executives, claiming that they failed to moderate speech.

Twitter’s business is based on advertising placed in users’ feeds, which has suffered since Musk entered the chat in April. Twitter reported its first year-over-year sales decline since the pandemic began, and it’s likely that the company will experience a similar slump in the third quarter. However, the company has not yet announced whether it will report its earnings, and has yet to disclose any information on its plans.

Elon Musk’s decision to fire Twitter CEO is an unprecedented move, and it’s unclear what will happen next. Musk has announced that he will hire a new full-time CEO for the company and will make changes to the company. Musk has promised to overhaul Twitter dramatically, including removing lifetime bans for violators of its content moderation policies.