Why did Elon Musk fire Twitter CEO, Parag Agrawal?: Explained

Elon Musk takes control of Twitter and removes Vijaya Gadde, the company’s policy leader, and CEO Parag Agrawal. Musk has fired Parag Agrawal, the CEO who fought to have the billionaire held to the terms of a contract he intended to avoid.

Vijaya Gadde, chief legal, policy, and trust officer; Ned Segal, chief finance officer; and Sean Edgett, general counsel; all of whom joined Twitter in 2017; are also departing from their positions.

Elon Musk has taken over as Twitter’s CEO

Elon Musk has successfully finalized his $44 billion acquisition of Twitter after more than six months of public and judicial wrangling over the deal.

A leadership change was one of Musk’s first initiatives. He fired Parag Agrawal, the top executive who moved to court to force the billionaire to abide by the terms of a deal he wanted to avoid.

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Vijaya Gadde, chief legal, policy, and trust officer; Ned Segal, chief finance officer; and Sean Edgett, general counsel; all of whom joined Twitter in 2017; are also departing from their positions.

Elon Musk

Edgett needed an escort to go outside the building. Shareholders of Twitter will now earn $54.20 per share as it becomes a private company. The accomplishment completes a difficult process that began in January.

Why did Elon Musk fire Twitter CEO, Parag Agrawal? 

When company co-founder Jack Dorsey abruptly announced his departure in November, Agrawal assumed control as CEO. Agrawal has been a ten-year employee at Twitter, most recently holding the position of chief technology officer. But Agrawal’s time as CEO was short-lived as Musk joined the firm as a large shareholder and a vocal opponent of the incumbent management.

It became clear when Musk arrived that Agrawal was not going to stay in his job. Musk said in an early deal filing, “I don’t have faith in management,” and the two CEOs spat barbs in front of the public. In a conversation on Twitter that Agrawal initiated in May to defend the company’s user metrics, Musk replied with a faeces emoji.

Early on in the bargaining process, the two men got into a heated argument after Musk asked his followers if Twitter was “dying” in text messages that were made public as part of the lawsuit.

Agrawal challenged him over SMS. On April 9, he also stated: “You are allowed to tweet ‘is Twitter dying?’ or anything else about Twitter, but I must caution you that it’s not helping me improve Twitter at this time. Musk responded, “What did you do this week?” He continued, “I’m not joining the board; it’s a waste of time.”

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During agreement discussions the following week, Musk made fun of Agrawal for being on vacation in Hawaii in messages to a friend.

He should be in a war room right now, don’t you think? 

Investor Jason Calacanis sent Musk a text message. Is it acceptable to place sporadic zoom calls while having fruity cocktails at the Four Seasons? Musk responded.

Musk, a trustworthy friend of Jack Dorsey, and Agrawal’s attempts to make amends following the announcement of the deal were unsuccessful as well. Musk received a message from Dorsey following a conference call saying, “At least it became obvious that you can’t work together.” 

Agrawal won’t be leaving empty-handed despite his claim that “it made everything clearer.” A document states that as part of the arrangement, the CEO’s unvested equity incentives will completely vest. He will make close to $42 million, as predicted by research firm Equilar, according to Reuters.

Gadde is in charge of setting and enforcing standards for hundreds of millions of internet users, including renowned users who are exempt from tougher content restrictions thanks to the company’s exclusions for notable posts or communications from international leaders. After buying Twitter, Musk promised to make it a less censorship-heavy platform for free speech, calling the transition “essential to a functioning democracy.”

When Musk publicly criticized Twitter’s content-related decisions earlier this year, Gadde was subjected to a surge of online hostility.

The firm permanently barred former US president Donald Trump after his followers attacked the Capitol building in January 2021.

Based on his comments made before he acquired the social media company, many people believe that Musk will reinstate Trump’s account as well as that of other users who have been banned for breaking the rules on provocative or harmful content.

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