Elon Musk may replace Twitter CEO Parag Agrawal; management rejig likely soon: Reports

Nearly a week after SpaceX CEO Elon Musk took control of microblogging major Twitter for a whopping $44 billion, uncertainties loomed over the incumbent management including its CEO Parag Agrawal. According to multiple media reports, Musk has lined up a new Chief Executive to lead Twitter. Earlier, during the SEC filing-- a set of regulatory documents that are submitted to the Securities and Exchange Commission in order to provide transparency and information to investors, analysts, and regulators-- Musk had reportedly showed no confidence in the company’s current management. Furthermore, in a tweet after the acquisition, Musk stated that he would like to change Twitter into a place of “maximum fun”. Since then, there are speculations about a possible change in current management and its policies.

However, Musk did not reveal the name of the new Twitter CEO. With this, there are media reports which claim if the Indian origin CEO, Agarwal will be fired or resigns on his own, he would receive over $40 million in compensation. However, earlier in his tweet, Agarwal seemed confident about his future at Twitter. "I took this job to change Twitter for the better, course-correct where we need to, and strengthen the service. Proud of our people who continue to do the work with focus and urgency despite the noise," he tweeted a day after Musk's takeover.

Twitter employees confronted Agarwal and demanded answers about future actions

Earlier last month, Twitter agreed to Musk's buyout offer for a whopping $44 billion. In order to acquire the microblogging platform, Musk has sold 4.4 million shares of Tesla stock worth roughly $4 billion. The revelation came after Musk reported the sale in a filing with the Securities and Exchange Commission on Thursday. After the takeover, Musk proposed a series of bold decisions including, mass layoffs of employees, paying in dogecoin and banning advertising.

Earlier, it was reported that the employees of Twitter confronted the CEO Parag Agarwal and demanded answers on how managers planned to deal with an impending mass departure of the employees after Elon Musk takes control. As per the reports of the Guardian, executives indicated at the internal town hall meeting that the business would track employee attrition on a daily basis but that it was too early to know how the Musk buyout would affect employee retention.

Image: paraga/Twitter/ Shutterstock/ AP