![]() ![]() Musk believed that Agrawal was not the kind of man who could run Twitter. In some of his leaked chats, Musk berated Agrawal and even mocked him for holidaying in Hawaii. It was certain that Musk would fire Parag Agrawal as soon as he took over. ![]() Musk's hate-hate relationship with Parag Agrawal Musk found the Twitter management incompetent and his leaked chats were testimony to the fact that he disliked Agarwal and wanted to get rid of him as soon as he acquired him. He had joined Twitter when it was at a nascent stage with less than 1000 employees at the helm.Īgarwal’s termination was predicted when the talks about Musk acquiring Twitter first came to shore. degree in computer science and engineering from IIT Bombay in 2005 and a PhD in computer. With Agrawal’s termination, his decade-long association with the company also ended. His total compensation for 2021 was $30.4 million, which was paid to him in stock awards. The estimate was also based on the price Musk offered, $54.20 per share and terms in the company's proxy statement.Īgrawal was elevated as the CEO of Twitter in November last year when former CEO Jack Dorsey stepped down from his role. The research firm Equilar estimated Agrawal's base salary for a year along with the "accelerated vesting of all equity awards," the company spokesperson told Reuters in a statement. Paul Barrett, deputy director of the NYU Stern Center for Business and Human Rights, said in a statement Dorsey “leaves behind a mixed legacy.” “A platform that's useful and potent for quick communication but one that's been exploited by a range of bad actors, including former President Donald Trump, who did his best on Twitter to undermine democracy-until Dorsey's people finally had enough and shut him down,” Barrett said.Combined, it is safe to say that Parag Agrawal is likely to get around $50 million, whereas Gadde may get around $45 million to start with. Chief Criticĭorsey faced criticism in recent years for his hesitations to censor users, including controversial public figures, on the app. He still serves as CEO of Square, of another company he co-founded in 2010. He was named as the new CEO by former chief exec and Twitter co-founder Jack Dorsey in a surprise statement to staff, media and the world. The Indian-American tech executive has worked at Twitter for a decade. Dorsey said in the email he believes a company being founder-led is “severely limiting and a signal point of failure,” adding that “there aren’t many founders who choose their company over their own ego.” Dorsey co-founded Twitter in 2006 and served as CEO until he was pushed out in 2008, but returned to the role in 2015 after Dick Costolo stepped down. Parag Agrawal is the new CEO of Twitter, as of Monday, November 29. ![]() Reports of Dorsey’s impending resignation surfaced Monday morning, and he confirmed he was stepping down, effective immediately in a company-wide email. Twitter reported user growth and revenue that met analysts’ expectations in the third quarter of this year, despite Apple’s iPhone privacy changes. ![]() The management group also thought that by replacing Dorsey, who was CEO of Twitter and Square at the time, with a full-time CEO could make Twitter more favorable and valuable on Wall Street, Bloomberg reported. Elliott Management, an “activist investor” firm and Twitter stakeholder, attempted to oust Dorsey from his position in 2020 over the company’s slow growth, according to a Bloomberg report. Twitter stopped reporting its monthly active users in 2019 as the numbers were stagnating around 300 million-at the time, Facebook reported having approximately 2.5 billion monthly users. Twitter’s user growth struggled in recent years, both with getting existing users to use the app again and with recruiting new users, Recode reports. My trust in him as our CEO is bone deep.” Key Background As RedState reported earlier, Jack Dorsey has stepped down as the CEO of Twitter. “He leads with heart and soul, and is someone I learn from daily. He’s been my choice for some time given how deeply he understands the company and its needs,” Dorsey said in a company-wide email announcing his departure. “The Board ran a rigorous process considering all options and unanimously appointed Parag. ![]()
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