The incoming Twitter landlord, Elon Musk, has been rumoured to be making a massive change on the bird app by replacing its CEO, Parag Agrawal.
IndiaToday reported that suggest that the Tesla CEO has reportedly lined up a replacement Argwal who will take over once the $44 billion sale deal is completed later this year.
Apart from employees’ concern over a possible job loss, Parag Agrawal has been bombarded with multiple questions regarding layoffs, the future of Twitter, and more.
Although, Agrawal assured that nothing of that sort is happening for now. But, a new report from Reuters suggests a different story.
Last month, the billionaire told Twitter’s chairman Bret Taylor that he does not have confidence in the company’s management, hinting at restructuring at the management level.
Agrawal, who replaced Jack Dorsey as CEO last November, is expected to serve his role until the sale of the company to Musk is completed. Musk reportedly declined to reveal the identity of the replacement.
It was previously reported that Musk will need to pay $43 million if he fires Agrawal within 12 months of a change in control at Twitter.
Could Musk fire Vijaya Gadde as well?
The New York Post reported that the Tesla boss also plans to show Twitter’s legal head Vijaya Gadde the exit door.
If fired, Gadde, who makes about $17 million a year, will get a severance package worth $12.5 million, including Twitter shares.
“Gadde, who earned $17 million last year as Twitter’s top legal counsel, 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 report stated.
The 48-year-old Gadde reportedly broke down in tears at the time of addressing colleagues about the future of Twitter last week.