Elon Musk’s acquisition of Twitter has officially completed for $44 billion and is now in charge of Twitter.
Sources (per CNBC) said Twitter CEO Parag Agrawal and CFO Ned Segal have left the company’s San Francisco headquarters and will not return. The Washington Post reported that Vijaya Jade, head of legal affairs and trust and safety policy, was also fired. The New York Times reported that Sean Edgett, general counsel, also left. Insider reported that its chief customer officer, Sarah Personnet, was also fired.
According to Reuters and Bloomberg, security is accompanied by Agrawal, Sejal and Edjit.
CEOs have been paid big for their problems, Insider reports: Agrawal got $38.7 million, Segal got $25.4 million, Gadde got $12.5 million, and Personette got $11.2 million.
Musk initially offered to buy Twitter in April, then changed his mind and tried to back out in May. Then he changed his mind again on October 4, submitting a letter to the Securities and Exchange Commission confirming his commitment to the original deal. Musk met with Twitter employees this week, and is expected to address them Friday now that the $44 billion acquisition is complete, according to The Verge.
Musk was rumored to want to cut 75% of Twitter’s employees, though he later retracted that statement — however, eviscerating four executives Thursday night does not comfort the remaining Twitter employees. Even Biz Stone, one of the founders of Twitter, spoke of the unrest, saying:
According to the Washington Post, Musk plans to hold a company-wide meeting on Friday, the day the court has set for the settlement.
