A week after acquiring Twitter for a whopping $44 billion, Elon Musk on Tuesday, 3 May, has lined up a new Chief Executive for the social media company, placing a question mark over current CEO Parag Agrawal’s future at the company, reported Reuters quoting an unnamed source.
Musk has repeatedly in the past stated that he does not have confidence in Twitter’s management, even outlining the same in a securities filing on 14 April.
Parag Agrawal, who was named Twitter's Chief Executive in November, is expected to remain in his role until the sale of the company is through. There is also speculation that other top management might be laid off after the deal is completed.
However, Agrawal appears to be confident about his future at the company. Clearing the air on 28 April, responding to a Twitter user who wondered whether Agrawal was fired, the CEO clarified, "nope! we're still here".
Agrawal, who took over the social media platform just a few months ago, after Jack Dorsey's resignation from Twitter, had been chosen unanimously by the board to replace Dorsey as CEO as the latter left after 16 years with the company he founded.
'No Plans for Layoffs at This Point': CEO
Speaking to his employees at a virtual meeting after the social media platform accepted Musk's bid, Agrawal stated that it would take at least six months for them to seal the deal.
"There are no plans for any layoffs at this point. Between now and closing, we will continue making decisions as we've always had, guided by the principles we've had," the CEO had been quoted as saying by news agency Reuters.
"Once the deal closes, we don't know which direction the platform will go," he told his staff.