Twitter’s new CEO Elon Musk sped through the job in a flash on Thursday, firing CEO Parag Agrawal, legal director Vijaya Gadde and three other high-ranking executives from the company just moments after taking charge and tweeted ” the bird has been released ” to signify that this social network will become more open to free and free speech. “
Spoiler Alert. Let the good times roll, ” Musk, 51, tweeted early on Friday.
According to reports, the demotion from the two Indian American principals was inevitable when Elon Musk completed his acquisition. Agrawal and Gadde were reportedly at war with Musk during the time, which led to the takeover of false accounts and censorship. They were practically evicted after being reportedly removed from Twitter’s Twitter headquarters.
There was a valid reason why they didn’t quit before when Musk assumed control of Agrawal’s contract for the business, which is believed to provide him with a payout that could be as high as $ 60 million should continue his contract be terminated.
What It will cost?
According to certain reports, Agrawal’s departure will cost the company $66 million. Gadde will be rewarded with a severance payment worth $ 72 million. The amount is believed to comprise the total of their current stock portfolios and the salaries they held that d did not yet become vested; however, Musk will now have to pay.
Others ejected include chief financial officers Ned Segal and general counsel Sean Edgett. ” The truth. The Twitter account @paraga ( Twitter handle ) might be fired chief. Still, he carried Elon’s wallet while going to shareholders ” Tech journalist Kara Swisher tweeted, responding to a fellow journalist who wrote ” Agrawal secured the bag for his shareholders, and was fired …. the company should create an honorary statue of him in the hall of shareholder value of fame. “
They were talking about what is widely regarded as a premium cost Musk paid to acquire Twitter ( $44 billion ) which raised the share price for investors who doubted that the share price was falling. Musk, for Musk’s part, has cast his acquisition as the noble cause ” to aid humanity ” and to end what he and many conservatives in the US consider to be the company’s left-oriented censorship of unhindered right-wing opinions.