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Musk takeover: CEO, Parag Agrawal, to earn $42m after sack from Twitter



The final acquisition of Twitter by the world’s richest man, Elon Musk, has led to the dismissal of the firm’s Chief Executive Officer, Parag Agrawal.

Agrawal joined Twitter in 2011 as a software engineer, but rose to the position of Chief Executive in November 2021, after founder, Jack Dorsey, resigned from his CEO role.

Six months ago, Ripples Nigeria had hinted on the possibility of Agrawal losing his position in Twitter, as Musk has constantly questioned the ability of the management to lead the social media company.

After almost a year in the role of CEO, Agrawal’s sack will now earn him about $42 million compensation. Musk is expected to takeover the position, as he already edited his Twitter profile description to “Chief Twit”.

Also, the head of legal policy, trust, and safety at Twitter, Vijaya Gadde, was fired, after months of speculations that she will also exit the firm if Musk takes over.

There have been reports that Gadde’s ideologies are in contrast to that of Musk, as the former is described as a top censorship advocate, but the latter believes no one should be gagged.

READ ALSO:Elon Musk takes over Twitter, fires top executives

In April, Musk had stated, “Suspending the Twitter account of a major news organization for publishing a truthful story was obviously incredibly inappropriate.”

This was in response to a tweet that Gadde played a role in the restriction of NYPost’s account and reach over a story on Joe Biden’s son. She was also said to be unhappy with Musk’s decision to buy Twitter.

Another top executive affected by Musk’s takeover is the social media company’s Chief Finance, Ned Segal.

Ripples Nigeria reported that Musk agreed to acquire Twitter for $44 billion after previously backing out of the contractual agreement to buy the firm.

Musk was given until October 28, 2022, to acquire Twitter as previously agreed or face trial in the Delaware Chancery Court in the United States.

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