Twitter CEO Parag, CFO Segal Fired By 'Chief Twit' Musk: Reports

(RTTNews) - After taking over Twitter Inc. (TWTR), billionaire investor Elon Musk reportedly fired CEO Parag Agrawal and CFO Ned Segal to have full control of the microblogging and social networking service. Along with CEO and CFO, two other executives namely Vijaya Gadde, a top legal and policy executive, and Sean Edgett, general counsel were also fired by Musk, New York Times reported.

Reuters reported that Parag Agrawal will get a lump sum of $42 million as part of the deal to leave. Parag is an Indian-American technocrat and former CTO of Twitter, who replaced CEO Jack Dorsey in November 2021.

Reports said Parag was escorted out of Twitter's office. Musk visited Twitter headquarters in San Franciso on Wednesday and interacted with engineers and ad executives. He changed his bio to 'Chief Twit' and in a message to Twitter advertisers, he said "a common digital town square" is required for the future civilization.

Twitter stock will be suspended from trading on NYSE until the deal is formally announced.

Musk offered $44 billion or $54.20 per share to own Twitter in April. Later in mid-May, he said he no longer wish to have Twitter which led to a legal battle. However, by July Musk said he will be legally committed to the deal. In October he was back to the deal.