Twitter's Top Indian-origin Executives To Exit With Hefty Payout According to Bloomberg, chief executive officer Parag Agrawal, is eligible to receive roughly $50 million. Chief Financial Officer Ned Segal and Vijaya Gadde, head of legal, policy and trust, will receive $37 million and $17 million each, respectively
By Shrabona Ghosh •
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Soon after Elon Musk, the world's richest man, completed his $44 billion takeover of Twitter, a number of top executives, including Parag Agrawal, the CEO was fired.
Three of Twitter's top executives who were said to be fired after Elon Musk's takeover are poised to collect more than $100 million in severance and payouts of previously granted equity awards, pointed reports.
According to Bloomberg, chief executive officer Parag Agrawal, who stepped into the role less than a year ago, is eligible to receive roughly $50 million. Chief Financial Officer Ned Segal and Vijaya Gadde, head of legal, policy and trust, are in line for about $37 million and $17 million each, respectively.
The Bloomberg report further added that like many top leaders at big public companies, Agrawal and his lieutenants were entitled to severance equal to a year's salary and cash-outs of unvested equity awards if Twitter was bought and they lost their jobs in the process, according to the terms of the company's severance policy.
Soon after the takeover Musk released a slew of tweets. He said, "Comedy is now legal on Twitter", "Let the good times roll", among others.
Twitter will also form a content moderation council. Musk tweeted, "Twitter will be forming a content moderation council with widely diverse viewpoints. No major content decisions or account reinstatements will happen before that council convenes."
While Elon Musk never fails to surprise everyone, his entry at the Twitter HQ was different. Musk entered the Twitter HQ with a sink in his hand, ahead of the takeover deal. He posted a video on Twitter with the caption: "Entering Twitter HQ-- let that sink in!"
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
Elon Musk made his intention to buy Twitter in April this year, but months later backed out citing several issues. In May he said the deal was 'temporarily on hold' because of concerns he had about fake accounts on the platform. Finally, on October 28th Musk took control of Twitter.
