Elon Musk, after completing his USD 44 billion acquisition of Twitter Inc., has said that he is willing to replace Parag Agrawal as CEO of the social media platform and also intends to reverse the permanent ban on users, according to a report.
As per the reports, Parag Agrawal was fired along with other major executives upon completion of the takeover. Elon Musk, who is the owner of Tesla and Space X, is expected to remain the CEO of Twitter in the interim period.
According to multiple reports, Twitter’s Chief Financial Officer Ned Segal and its legal and policy executive, Vijaya Gadde, were asked to leave.
Before agreeing to pay USD 44 billion to acquire Twitter, Musk shot down rumours regarding his motivations for doing so and his views on advertising.
The reason I acquired Twitter is that it is important for the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner without resorting to violence. “There is currently a great danger that social media will splinter into far right-wing and far left-wing echo chambers that generate more hate and divide our society,” he said in a statement on Thursday.
According to the founder of Tesla, Twitter should be “warm and friendly to all” and provide users with the option to customize their experience. When speaking to advertisers, Musk also stated that he wants the platform to be “the most respected advertising platform in the world.”
Musk, meanwhile, entered the Twitter offices in San Francisco on Wednesday carrying a sink bowl. On the internet, various memes reference this action.
Musk tweeted a video of himself carrying a kitchen sink and captioned it “Let that sink in!”
He also changed his Twitter profile to read “Chief Twit”.
Elon Musk, who had previously expressed interest in purchasing Twitter, abruptly ended the agreement in July. The Tesla CEO said that by exaggerating the quantity of spam and false bot accounts on its network, Twitter had broken the terms of their mutual purchase agreement.
The market had a strong fall following Musk’s announcement of the contract termination. Later, Twitter sued Musk, alleging that he had used bots as a cover to back out of a transaction.
Last week, Musk reiterated that he would proceed with the purchase of Twitter at the initially agreed-upon price of USD 54.20 per share. However, the judge presiding over the issue has ordered a pause on the Twitter acquisition legal procedures until October 28.