Elon Musk plans to sack Twitter CEO Parag Agrawal and Vijaya Gadde
Elon Musk has been making headlines ever since his Twitter deal, and the latest one that is hitting the rumor mills is his plans to sack Twitter CEO Parag Agrawal. According to media reports, Elon Musk has lined up a new CEO to replace Parag Agrawal, who was appointed to the top post in November 2021. Parag Agrawal had replaced Jack Dorsey as the chief executive officer.
However, Musk will have to pay $43 million to Agrawal if the incumbent CEO is removed within 12 months of a change in control at Twitter. Agrawal is likely to stay at the helm until the sale of the microblogging site is completed.
The New York Post has reported that Elon Musk is also planning to fire Vijaya Gadde, Twitter’s legal head. Vijaya Gadde, who makes close to $17 million a year, is one of the highly paid executives at the company. If sacked, Gadde would get a severance package of $12.5 million, including some Twitter shares.
“Gadde, who earned $17 million last year, could be on the chopping block as Musk is reportedly planning to slash jobs and reduce executive pay as he looks to secure financing for his Twitter bid,” The New York Post reported.
TWITTER MAY NOT BE FREE FOR GOVERNMENT USERS
In his latest tweet, Musk said Twitter might charge a small fee for commercial and government users in the future.
“Twitter will always be free for casual users, but maybe a slight cost for commercial/government users,” Musk tweeted.
Musk has been suggesting many changes on the microblogging platform even before his $44 billion Twitter takeover deal. In the past, Musk proposed plans to add an Edit Button and also said, “we will defeat the spam bots or die trying!”