Twitter CEO, CFO Plan To Call It Quits As Elon Musk Completes Takeover: Report – Twitter (NYSE:TWTR)

Twitter Inc TWTR CEO Parag Agrawal and finance chief, Ned Segal, are among the the prime executives reportedly scheduling to leave the microblogging agency as Tesla Inc TSLA CEO Elon Musk finishes his $44 billion takeover of the enterprise.

What Took place: Agrawal and Segal are on their way out, as are policy and authorized head Vijaya Gadde and typical counsel Sean Edgett, Bloomberg claimed late on Thursday, citing men and women common with the make any difference.

Twitter did not straight away reply to Benzinga’s ask for for remark at the time of producing this tale.

Study Upcoming: Musk Hasn’t Sold More Tesla Shares To Fund $44B Twitter Deal: Could Overhang Be Absent?

Why It Matters: Musk in April had indicated that he did not have “confidence in [Twitter] management” in a submitting with the U.S. Securities and Exchange Fee.

Leaked text messages between Musk, Twitter founder Jack Dorsey and Agrawal showed the Tesla CEO’s disappointment with the social media firm’s management.

Agrawal, who has been with Twitter for about a decade, took the prime submit at the firm after Dorsey abruptly stepped down from the part in November 2021.

Segal joined Twitter in 2017, Edgett in 2012 and Gadde in 2011. 

It was documented before that Agrawal stands to get a severance examine really worth around $40 million if he is terminated inside 12 months of Musk getting in excess of Twitter.

Price tag Action: Twitter shares closed .66% greater at $53.7 on Thursday, in advance of rising .13% in prolonged investing, according to details from Benzinga Pro. That even now stays under Musk’s offer of $54.20. 

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