Twitter CEO Parag Agrawal has given a detailed explanation of the microblogging site’s recent leadership changes and said that the agreement with Elon Musk would go through. Agrawal said a lot has transpired at the firm over the last several weeks in a lengthy thread on Twitter posted early Saturday, and although he hadn’t spoken anything publicly about it yet, he would now. Parag Agrawal’s lengthy thread followed his firing of two key Twitter executives, and Elon Musk’s announcement that the Twitter takeover agreement had been placed on hold.
“In the last several weeks, a lot has transpired. I’ve been focused on the firm and haven’t spoken much publicly in the last several months, but I will now “We announced changes to our leadership team and operations yesterday,” Agrawal stated in a tweet. Changes that affect individuals are usually difficult. Some have questioned why a “lame-duck” CEO would make these adjustments if the company is already being bought. The quick answer is straightforward.”
While Agrawal expects the $44 billion Twitter transaction with Elon Musk to be complete, he says the team must be ready for any situation. “While I anticipate the transaction to finish, we must be prepared for any eventuality and always act in Twitter’s best interests.” I’m in charge of leading and running Twitter, and our goal is to make it better every day “he stated. According to Agrawal, no one worked at the firm only to work.
“At Twitter, no one works solely to keep the lights on.” We are proud of what we do. We’re here to improve Twitter as a product and a business for customers, partners, shareholders, and all of you, regardless of the company’s future ownership “he said.
Elon Musk said in a tweet on Friday that his $44 billion purchase of Twitter had been put on hold due to outstanding specifics on spam and phony accounts. Later, he said that he was ‘dedicated’ to completing the transaction.
The Twitter CEO said that the social media business is now in a difficult condition, pointing to Twitter’s and other tech firms’ recent stock market crashes. He said that he would continue to make difficult judgments as necessary. “I’ll also make an effort to make our work more transparent.” You won’t see me tweet about the ‘subject of the day or the most outrageous sound bite,’ but rather about the continuing, constant, and difficult work our teams are doing to enhance the public dialogue on Twitter “he stated.
Agrawal also praised Twitter’s employees for being focused and adaptable throughout difficult times. “Finally, a huge thank you to our whole Twitter staff. They have remained concentrated and powerful, as well as smart and nimble. They’ve been going about their business as usual. Onward, “he wrote.
Elon Musk’s Twitter takeover delay triggered the stock to drop 20% instantly on Friday, adding to the company’s previous market value decline. Twitter is currently worth about $13 billion less than Musk asked to purchase it. The Tesla CEO, on the other hand, will not be able to walk away from the Twitter arrangement as easily, since he faces a $1 billion breakup charge for breach of contract.