Elon Musk has a new Twitter CEO in mind

30 Apr 2022

According to reports, Elon Musk has fresh ideas for Twitter's top leadership.

When Musk's $44 billion takeover offer for Twitter was approved, Reuters reported that Musk had already made arrangements to replace the company's CEO in San Francisco but has not yet officially revealed the identity of the new leader.

Tesla CEO Elon Musk allegedly informed Twitter Chairman Bret Taylor that he lacks confidence in the company's management and has recommended charging third-party websites that quote or embed verified tweets a charge.

When Twitter co-founder Jack Dorsey stepped down in November, 37-year-old Parag Agrawal became the company's new CEO. According to a Twitter proxy filing dated April 11, if Agrawal is terminated after the merger closes this year, he would get $38.7 million under a stipulation in his contract.

Additionally, the news agency said Agrawal tried to cool things down during a corporate meeting on Friday. 

Workers vented their anger about how the firm planned to deal with an impending staff exodus due to Musk's ownership.

This might be Twitter's last earnings report as a publicly traded business, as the firm released its first-quarter results this week. Analysts had predicted $1.23 billion in revenues, but the company's sales were just $1.2 billion in the third quarter, a 15.9 percent gain over the previous year.

One percent was all that was gained on Friday in the TWTR stock market.

SEC papers show that Musk sold $8.5 billion in Tesla stock this week, the bulk of which was sold on Tuesday, to fund the acquisition purchase. 

On Thursday, Tesla shares plunged 12 percent, but on Friday, they were up nearly 5 percent until the gains dwindled to less than 1%.

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