The position of Twitter CEO has been vacated by Parag Agarwal. He was named Twitter’s CEO in November 2021. Elon Musk will be required to pay him 346 crores as per the policy.
Alon Musk, Twitter Deal: Parag Agrawal, the CEO of Twitter has been given the exit after Elon Musk assumed control of the organization. For a very long period, Musk had been furious at Parag and had attacked him. Even though Parag Aggarwal was let go by Twitter. He will still receive a sizable sum of money. Reports state that Parag Agarwal will receive Rs 346 crore. This is due to the deal made between Twitter and Elon Musk which stipulates that must pay compensation if he bans Agarwal from Twitter.
Why Parag Agarwal will get Rs 346 crore?
A big company’s CEO is entitled to some shares of the company in addition to his remuneration under the regulations of the business world. Twitter appointed Agarwal as CEO in November 2021. He has received more than 128,000 tweets. Even for Musk, the three received a total compensation of hundreds of millions of dollars, which could seriously harm his financially. The entire anticipated payments come to approximately Rs 1,009 crore, or $122 million.
Why did Parag and Musk quarrel?
After Twitter co-founder Jack Dorsey abruptly left his position in November of last year, Parag Agarwal assumed leadership of the company. Later, once Twitter made a deal with Elon Musk, their friendship deteriorated. It was often requesting information, including access to bot accounts. Additionally, he said that Twitter’s management was opaque and declared that he did not trust it.
There has been a dispute on Twitter:
Elon Musk and Parag Aggarwal have also engaged in a Twitter spat. Tweeted Elon Musk, “Twitter is dying. You are free to tweet anything, Parag Aggarwal responded. Along with him, the corporation sacked a number of other key executives, including Vijaya Gadde.
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