Updated Oct 28, 2022 - Economy & Business
The Twitter executives fired after Elon Musk's takeover
At least four Twitter executives are leaving after new owner Elon Musk closed the deal on Thursday, according to multiple media reports.
Why it matters: Musk has the keys to one of the most popular social networks for news and information — and can reshape its leadership to his liking.
Among the Twitter executives fired on Thursday:
- Parag Agrawal became the CEO as the company tried shifting from an ad-based social network focused on text to a subscription-based platform centered on smaller communities and multimedia. He has vested 100% of his equity awards in the sale and will make around $42 million, Reuters reports.
- Vijaya Gadde: Gadde was put in charge of major user account decisions by the prior CEO Jack Dorsey. She was behind the decision to permanently ban former President Trump from Twitter.
- Others no longer working for Twitter: Sean Edgett, general counsel, and CFO Ned Segal.
Between the lines:
- Former President Trump’s Twitter account remains suspended as of Friday afternoon. Following Elon Musk's completed takeover, Trump said that "Twitter is now in sane hands"
- On Friday, Elon Musk said that Twitter restored the account of Ye, formerly known as Kanye West, before Musk's official takeover of the social media company.