Elon Musk becomes Twitter CEO after firing former CEO Parag Agrawal; will reverse lifetime bans on users
Minutes after completing the $44 billion Twitter acquisition, Elon Musk began his Twitter ownership with the firings of four top Twitter executives. The first to be fired was former CEO Parag Agrawal. Musk also fired Ned Segal, the chief financial officer, Sean Edgett, the general counsel, and Vijaya Gadde, the top legal and policy executive, (or censorship czar).
With the top executives fired, Musk will become the CEO, taking the helm of the social media giant in addition to leading Tesla Inc. and SpaceX, Bloomberg reported, citing a source familiar with the matter who asked not to be identified because it was internal deliberations. The source also told Bloomberg that Musk is expected to remain CEO in the interim but may eventually cede the role in the longer term. As his first act as the new CEO, the billionaire will reverse the lifelong bans on users.
Meanwhile, there were unconfirmed reports that Twitter employees were locked out of the source code at noon today. Tesla engineers were also inside the Twitter office today to get the source code and dig into the system for Musk.
As we reported last week, Musk planned to lay off nearly 75 percent of Twitter’s 7,500 workers after the acquisition is complete. Musk told investors in his $44 billion takeover deal to buy the social giant “that he planned to get rid of nearly 75 percent of Twitter’s 7,500 workers, whittling the company down to a skeleton staff of just over 2,000.
The report has put Twitter employees in panic mode. In a draft open letter received by Times, unknown Twitter employees demanded that Musk commits to preserving Twitter’s current headcount if his takeover of the company goes through.
The letter goes on to demand that he does not discriminate against employees based on their political beliefs and that he commits to “fair” severance policies and more communication about working conditions. “We demand to be treated with dignity, and to not be treated as mere pawns in a game played by billionaires,” the list of demands says.