Elon Musk has taken control of Twitter and fired the company’s CEO, chief financial officer and general counsel, two people familiar with the deal said Thursday night.
They said Musk, who was now in charge of the social media platform, has fired CEO Parag Agrawal, CFO Ned Segal and general counsel Vijaya Gadde. Neither of these two sources wanted to be identified because of the sensitive nature of the personnel move.
Elon Musk tried to reassure questionable Twitter advertisers on Thursday, a day before the deadline to complete his $44 billion acquisition of social media platform “for-all hellscape.”
The news appears intended to allay concerns from advertisers, Twitter’s main source of revenue. Musk’s plans to promote freedom of expression by restricting content moderation will increase online hazards and alienate users.
Tesla’s CEO has previously expressed his aversion to advertising and his reliance on Twitter’s ads, suggesting that it place more emphasis on other business models such as advertising. But on Thursday, he promised advertisers he wanted to make Twitter “the world’s most respected advertising platform.” said it was a departure from Musk’s position that Twitter unfairly violates free speech rights by blocking misinformation and graphic content.
In early October, the Chancery court in Delaware ordered a Friday trading cutoff. It’s the latest move in a battle that began in April with Musk signing a deal to buy his Twitter, after which he tried to back out, leading Twitter to replace his CEO of Tesla. sued and asked him to force the takeover. If both sides fail to meet Friday’s deadline, the next step could be a court hearing in November, where a judge could force Musk to complete the deal.
Multiple media quotes According to an internal memo, Musk plans to speak directly with Twitter staff on Friday when the deal is finalized. Internal turmoil and low morale, combined with fears of layoffs and dismantling of corporate culture and operations, have welcomed Musk’s appointment and message of the week, at least on the surface.