Is Elon Musk Planning To Replace Parag Agarwal As Twitter CEO? This Is What Report Says

New Delhi: Tesla CEO Elon Musk has lined up a new Chief Executive for Twitter and told banks that agreed to help fund his USD 44 billion acquisition offer about his plans to monetize tweets, according to a new report from Reuters. Musk has also reportedly laid out some bold plans for changing Twitter into a place of “maximum fun”.Also Read – Fierce Tornado Rips Through US State of Kansas, Damages Hundreds of Homes and Buildings | WATCH VIDEO

Reuters reports further add that Musk told Twitter chairman Bret Taylor that he does not have confidence in the company’s management, which is a sentiment that he also stated in SEC filings. Agrawal would be set for a significant compensation package if the deal closes and Musk brings in new management, as he would receive $38.7 million due to a clause in his contract, according to the company’s latest proxy filing. Also Read – Elon Musk Shares Advice on Long-Term Investment, When to Buy And Sell Stocks. Read Details Here

To recall, in deleted tweets from earlier this month, Musk suggested significant changes to Twitter Blue, which is the social media giant’s subscription service that is currently priced at USD 2.99 per month. Also Read – Twitter Employees Grill CEO Parag Agrawal Amid Fears of Mass Exodus Post Elon Musk’s Takeover. Key Things to Know

Musk suggested cutting the price, adding a way to pay in dogecoin and banning advertising. In another now-deleted tweet, Musk said he wants to move Twitter away from its dependence on advertising for much of its revenue.

Amid the reports of Parag Agarwal’s replacement as the Twitter CEO following the hostile takeover by the Tesla and SpaceX boss, Agrawal has appeared confident in his future at the company.

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.

— Parag Agrawal (@paraga) April 27, 2022

However, Parag Agrawal sought to quell employee anger during a company-wide meeting where employees demanded answers to how managers planned to handle an anticipated mass exodus prompted by Elon Musk, according to a Reuters report.

The report further added that the meeting comes after Musk, the Tesla (TSLA.O) chief executive who sealed a USD 44 billion deal to buy the social media company, repeatedly criticized Twitter’s content moderation practices and a top executive responsible for setting speech and safety policies.